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Sensex falls for third session; budget in focus

Reuters
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India, February 17, 2016. REUTERS/Shailesh Andrade (Reuters)

MUMBAI (Reuters) - Sensex fell for a third consecutive session on Thursday as caution prevailed ahead of the union budget due next week, while sentiment was further hit by weaker global markets and the expiry of derivatives contracts at the end of the session. Railway stocks such as Kalindee Rail Nirman Engineers slumped after the government announced a railway budget for the year starting in April 2016 that was seen as lacklustre for the sector. The broader Nifty fell 0.69 percent to 6,970.60, closing below the psychologically important level of 7,000 points. The benchmark BSE Sensex declined 0.49 percent to close at 22,976. (Reporting by Aastha Agnihotri; Editing by Subhranshu Sahu)