Falling for the fourth straight session on Tuesday the market continued its southward journey with the Sensex losing 94 points to close at 29,319. weighed by weakness in global peers after unexpected UK election announcement. Investors were also worried after prediction of monsoon at lower band of normal monsoon and on higher probability of El Nino.

 The 30-share BSE Sensex rallied 282 points in morning on the World Bank report but erased all its gains as the day progressed. 

The 50-share NSE Nifty  fell 34.15 points to 9,105. It touched an intraday high of 9,217.90 and low of 9,095.45, before closing  above the psychological 9100-mark. 

Met department today said the June-September monsoon is likely to be 96 percent of the long-period average. According to the Met's classification, the monsoon is considered normal if rains are between 96-104 percent of the 50-year average rainfall of 89 cms. It also sees an increased probability of El Nino from August 2017.

On the global front, European markets moved lower as UK Prime Minister Theresa May announced plans to call a snap general election on June 8. 

Rising tensions between North Korea and the US also dented the market sentiment. France's CAC, Germany's DAX and Britain's FTSE were down 0.6-1.6 percent during intra day trade.

In the currency market the Rupee further depreciated 12 paise to 64.62 against the Dollar.

SBI Card, the credit card business of State Bank of India or SBI, is levying a charge on payments made by cheques. This came into effect from April 1, according to SBI Card's website. The card company said payments made below Rs. 2,000 through cheques will attract a fee of Rs. 100. "A fee of Rs.100 will be charged for payments made by cheque. 

International Monetary Fund (IMF) has retained its forecastfor India’s economic growth in 2017-18 at 7.2 per cent, moderately higher than 7.1 per cent officially projected in the second advance estimates for the previous year.

Though the growth rate was the same as projected by IMF in the January update, it was lowered by 40 basis points from the 7.6 per cent forecast in October, mainly due to the government’s November move to demonetize  high-value currency notes