Sensex, Nifty decline on selloff in banking, financial stocks
The Hindu
The 30-share BSE Sensex declined 187.75 points or 0.28% to settle at 65,794.73
Equity benchmark indices Sensex and Nifty declined on November 17, dragged down by heavy selling pressure in banking, financial and energy stocks amid mixed cues from global markets.
Shares of bank and NBFC firms fell after the Reserve Bank tightened norms for consumer credit as it asked them to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious about such advances.
The 30-share BSE Sensex declined 187.75 points or 0.28% to settle at 65,794.73. During the day, it fell 342.74 points or 0.51% to 65,639.74.
The Nifty skidded 33.40 points or 0.17% to 19,731.80.
Among the Sensex firms, State Bank of India fell 3.64%, followed by Axis Bank (3.03%).
Bajaj Finance, ICICI Bank, Bajaj Finserv, IndusInd Bank, Infosys, Kotak Mahindra Bank, Wipro, and Reliance Industries were among the other laggards.
On the other hand, Larsen & Toubro, Hindustan Unilever, Power Grid, Asian Paints, Nestle and Mahindra & Mahindra were the major gainers.
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