Mumbai (PTI): The Bombay Stock Exchange benchmark Sensex on Friday dropped 107 points as funds booked profits from the over three per cent surge in previous trade, amid concerns that sparse monsoon rain might cut rural consumer spending.

The Sensex, which surged nearly 500 points in the previous day's trading, fell by 106.82 points at 15,411.63, after moving between 15,535.47 and 15,367.61 points during the day.

The 50-share National Stock Exchange index Nifty oscillated between 4,619.00 and 4,559.35 before ending with a loss of 24.95 points at 4.580.05.

Marketmen said trading sentiment dampened following reports that weak rainfall this monsoon might hamper farming output and jeopardise the economic growth target.

They said general investors and foreign funds booked profits at attractive, higher levels, after the steepest single-day rise in six weeks in yesterday's trading.

Firming trends in the oil and gas sector, led by trend setter Reliance Industries, prevented any major fall in the equity markets. The sectoral index rose 1.73 per cent to 9,869.21 with the segment major and the market-heaviest Reliance Industries gaining 0.64 per cent to Rs 2,034.30.

The major puller to the market were stocks in the realty, fast-moving consumer goods, information technology, teck and auto segments.