Markets snap three-day losing streak: Markets surged in late trades to snap three-day losing streak, amid short-covering and renewed buying interest, with private banking major ICICI Bank leading the gains. Bank Nifty soars 3 percent on short covering. Pull back seen in selective mid cap stocks after recent sell-off. In a major boost to the market, World Bank estimates India’s GDP growth at 7.5 percent in FY16 and 7.9 percent in FY17. It says that India needs to further rationalise subsidies. World Bank thinks tax-to-GDP ratio may rise after India implements GST but land acquisition remains hurdle in the country's efforts to boost infrastructure.