Nifty snaps four-day rally; Axis Bank slumps

REUTERS – The Nifty snapped a four-day winning streak to end lower on Wednesday, after a rise in bad loans at Axis Bank Ltd sparked concerns about the recovery of stressed assets in the country’s banking sector.

The Nifty ended 0.23 percent lower at 10,210.85, after three straight record-breaking sessions, while the benchmark Sensex closed down 0.08 percent at 32,584.35, its second consecutive session of decline.

Axis continued to weigh on the indexes throughout the session, falling 9.5 percent as other banks followed suit. ICICI Bank Ltd was down nearly 4 percent.