Top losers in the Sensex pack included Yes Bank, Vedanta, IndusInd Bank, Tata Steel, L&T, SBI, NTPC, Kotak Bank, HDFC, HDFC Bank, PowerGrid, Infosys and ITC, falling up to 4.18 per cent.
Foreign investment firm Credit Suisse First Boston said on Thursday that delayed monsoon is unlikely to have a "significant impact" on India's economic growth pegged at 5.7 per cent in 2004-05.
According to the India Meteorological Department (IMD), the Ayanagar weather station recorded 99.2 mm rainfall, the maximum in the city, during the 24-hour period ending at 8.30 am on Thursday.
The government on Thursday said based on the current monsoon situation, India's foodgrains output may rise by 29 per cent to 115 million tonnes.
Prices of perishable items could spike in the near term.
A good agricultural harvest and a timely arrival of monsoon, besides a slew of government schemes, have also come as a bounty.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
Food inflation further eased to 16.04 per cent for the week ended April 24, as arrival of rabi (winter) crops cooled down prices of essential items.
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An El Nino is a temporary change in the climate of the Pacific Ocean, in the region around the equator.
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
Trend could continue on downward revision in winter harvests.
'The economy needs to deliver the expected 7.5% growth for the markets to deliver better than single digit returns.' 'Any disappointment in growth can see the markets correcting downwards.'
Enthused by a good monsoon, the government on Wednesday said the economy would grow by over 6.0 per cent and could even log near 8.0 per cent growth
Churu in Rajasthan is sizzling with a record temperature of 50 degree Celsius.
Overseas investors buoyed by recent rate cut by RBI and hopes of a good monsoon
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
We need to invest in the science of monsoons and weather forecasting.
It forecast a growth of 9 per cent for 2011-12.
The Prime Minister's Economic Advisory Council on Friday said the economy will grow by 8.5 per cent, up from a projected 8.2 per cent, and inflation will come down from double digits to 6.5 per cent by the end of 2010-11.
Premium valuations and lack of big triggers will weigh on Indian equity markets in the near term, believes Mahesh Nandurkar, India Strategist, CLSA.
The markets had touched their highest levels in a month.
RBI will be cautious easing rates further given oil price uncertainties
The hardening of the Wholesale Price Index follows an uptick in retail inflation.
Sensex is under pressure due to concerns in the global market.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
It said that while the Union Budget for 2009-10 is expansionary and conducive to growth, the failure of the monsoon and its significantly adverse impact on agriculture and industry will shave off 0.8 percentage points from the GDP growth rate.
Given the various risks to growth, one could argue for rate cuts to be deeper than the 5 per cent terminal repo rate that we are projecting at this stage, says Kaushik Das.
The UNICEF said an estimated 2.4 million children have been affected by the recent floods in the country.
Six more people died in rain-related incidents in Tamil Nadu, taking the toll from heavy northeast monsoon showers to 80 since its onset two weeks ago.
The metropolis also saw two other incidents of wall collapse amid heavy rains since Friday, injuring five persons.
The total market valuation of all listed firms at the BSE had first hit Rs 100 trillion level on November 28, 2014.
The outlook of a negative growth in agriculture comes on the back of the Indian Meteorological Department's revised rainfall forecast and uncertain impact of mitigants such as ground water harvesting and modification of cropping patterns.
Rain played spoilsport yet again as the second day of the one-off Test between India and Bangladesh was called off without a single delivery being bowled, in Fatullah, on Thursday.
CMIE further said that it has dropped its forecast for sugar production during 2009-10 due to an expected fall ofeight per cent in sugarcane. Similarly, because of the expected fall in oilseeds, CMIE dropped its forecast for production of edible oil.
The Monetary policy committe comprising 6 members voted 6-0 in the favour of the rate cut.
The Sensex will then rally further and end 2016 at 28,000, according to the median forecast of 50 analysts polled in the past week.
Wholesale price-based inflation eased to a nine-month low of 4.68 per cent in February, while retail inflation slowed to a 25-month low of 8.1 per cent.
Moody's said India's current account deficit (CAD) has narrowed significantly from 4.8 per cent in 2012 to 1.4 per cent in 2014.
