Sensex falls 344 points, Nifty slides below 17,000 mark in 5th day of losses

Benchmark BSE Sensex trimmed all its early gains to close down by 344 points at a five-month low on Wednesday due to heavy selling in banking, financial and telecom stocks as lingering concerns over banks’ health and high inflation dented sentiments. Besides, persistent foreign capital drain from the domestic market and the sliding rupee kept the pressure on equities, traders said.

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