Sensex
slides for 3rd straight session, ends 262 points down, Nifty50 settles at
7,221; banking stocks fall
The BSE Sensex and NSE Nifty fell for the third straight
session on Wednesday on rising concerns over a spike in bad loans of public
sector banks amid global sell-off. Sensex closed 262 points down at 23,758.90,
while Nifty settled 76.80 points down at 7221.40.
Meanwhile, amid increasing global headwinds, Crisil Research
in its report has said that Indian economy is expected to grow at 7.9 per cent
in the fiscal year 2016-17, lower than earlier forecast of 8.1 per cent and
higher from 7.6 per cent expected in the current fiscal, if supported by a
normal monsoon. According to the report, growth in the next fiscal will find
mild support from improved transmission of the RBI’s policy rate cuts and the
implementation of the salary and pension revisions recommended by the One Rank
One Pension Scheme and the Seventh Pay Commission.
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