The Asian Development Bank (ADB) on Wednesday lowered India's economic growth forecast to 6.5% for the current financial year due to lower-than-expected growth in private investment and housing demand. Earlier it estimated the growth of 7%.
At close, the Sensex was down 55.47 points or 0.07 per cent at 79,486.32, and the Nifty was down 51.15 points or 0.21 per cent at 24,148.20 .Equities ignored positive global markets after the US Federal Reserve cut its benchmark lending rate by a quarter percentage point.
According to Likhita Chepa, Senior Research Analyst, CapitalVia Global Research: "The Indian benchmark had a gap up start today and is likely to recover from the previous session's fall."
Sensex and Nifty fell on Monday in line with Asian markets which responded on poor Chinese trade data and an extended partial US government shutdown, fuelling concerns of a global growth slowdown.
Brent crude futures on Thursday surpassed the $61-a-barrel mark around the closing bell.
A month after the government went in for demonetisation, India's factory output contracted by (-)0.4 per cent in December, official…
