Indian stocks fell more than 1 percent for a third consecutive session on Wednesday, pushing indexes to their lowest since May 2014 as state-run lenders were hit hard by a slew of earnings that showed a spike in bad loans and provisions for sour debt.
The broader Nifty ended 1.13 percent lower, trading at levels last seen when Prime Minister Narendra Modi was elected. The index is already down 3.7 percent for the week, heading for its biggest weekly fall since a 4.5 percent fall in the first week of the year.
The benchmark BSE Sensex lost 1.09 percent.
State Bank of India(SBI.NS) fell ahead of December quarter earnings, due on Thursday.
(Reporting By Manoj Rawal; Editing by Sunil Nair)
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Published Date: Feb 11, 2016 06:15 am | Updated Date: Feb 11, 2016 06:15 am