Sensex, Nifty fall amid hike in crude oil price, deficient monsoons

The benchmark indices reversed most of the gains posted on Thursday, following dovish statement by the US Federal Reserve, as the deficiency in rainfall and rising crude oil prices dampened sentiment. 

The Sensex closed at 39,194, down 407 points or 1.03 per cent, while the Nifty ended at 11,724, down 108 points or 0.91 per cent. 

Both indices logged their third straight weekly fall. The rupee ended at 69.57, compared to the previous day’s close of 69.44.

On Friday, the India Meteorological Department said the cumulative rainfall during this year’s southwest monsoon season was below the long period average (LPA) by 43 per