Stocks fall for 3rd day on rising trade worries

March 15, 2018 17:53

The BSE Sensex fell by 150 points to close at 33,685.54 in a volatile trade, extending losses for a third day as banking, FMCG and IT shares fell amid fresh LoU fraud scare and intensifying trade war worries. Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure after the CBI registered a fresh case relating to "fraudulent" issuance of Rs 9 crore of LoUs to Chandri Papers and Allied Products by PNB's Brady House branch.

The broader NSE Nifty fell below the key 10,400-mark and touched a low of 10,346.20, before ending down 50.75 points, or 0.49 per cent, at 10,360.15.

The World Bank and Fitch projected India's GDP growth at 7.3 per cent for the next financial year and accelerate further to 7.5 per cent in 2019-20, which helped limit the fall.

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