Nifty ends below 8,600 as Economic Survey lowers FY17 growth forecast

Steep fall in IT also contributed to the losses after Trump introduced H1B Visa bill in US Congress

Benchmark indices settled the day lower for the second consecutive session with the Nifty ending below 8,600 level after Economic Survey noted that the FY17 GDP growth will dip to 6.5% from 7.6% in FY16.
 
Steep fall in IT index also contributed to the losses after Donald Trump government introduced a bill in the US Congress that attempts to reform the H1-B visa process. The bill proposes to more than double the minimum wage for visa holders from $60,000 to $130,000.
 
The S&P BSE Sensex settled the day at 27,656, down 194 points, while the broader Nifty50 ended