Sensex slips 200 pts; Nifty below 19,750 amid heavy selling in financial stocks

The domestic equity indices on Friday, November 17, opened lower, dragged by banking and financial services stocks after the Reserve Bank of India (RBI) strengthened rules on personal loans and credit cards.

Last seen, the S&P BSE Sensex was down 221.88 points, or 0.34 per cent, at 65,760.6, and the NSE Nifty was down 55.25 points, or 0.28 per cent, at 19,710.15.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 traded in negative territory.

The high-beta Nifty Bank index was down 0.73 per cent at 43,839.3.

BUZZING STOCKS

Delhivery shares were down over 2 per cent after reports that Softbank is looking at paring a stake worth $150 million in the logistics firm.

Jio Financial Services shares were down over 1 per cent after the apex banker approved the appointment of Isha Ambani, Anshuman Thakur, and Hitesh Kumar Setia as Directors.

Bank and financial services stocks traded lower after RBI made the norms for consumer loans stringent. Risk-weight has been moved higher in case of unsecured loans by 25 per cent.’

MCX shares traded over 1 per cent lower after glitches were reported several times during the previous session, leading to cancellation of orders by brokerages.

IDBI Bank shares were down over 3 per cent after Tuhina Kant, DIPAM Secretary said there can be no commitment in respect of the lender’s divestment.

Ramkrishna Forgings shares were down over 2 per cent after the company’s 1.63 crore equity shares were allotted to QIBs to get listed.

Conversely, Brigade Enterprises shares were up over 4 per cent after the company announced to development 2 million square feet with a gross development value of Rs 2100 crore in Bengaluru.

DCX Systems shares rose over 5 per cent after the aerospace and defence company approved the raising of funds of up to Rs 5,800 crore.

IndiGo and SpiceJet shares traded higher after the passenger base surged 2.37 per cent on a month-on-month basis.

JSW Infrastructure shares were up over 5 per cent after the company under the PPP model secured a project worth Rs 4,119 crore from the Karnataka government.

SJVN shares were up over 2 per cent after the company entered into a power purchase agreement with Solar Energy Corporation of India.

AGS Transact shares were up over 5 per cent after the company bagged an order from SBI for over 2500 ATMs for a term extending 7 years.

GLOBAL MARKETS

Asian shares took a breather on Friday as a batch of softer U.S. economic data took some of the steam out of Wall Street, but also boosted bonds in a big way while slugging oil prices in a boon for the inflation outlook.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.4 per cent from a two-month high but is still up 3.1 per cent so far for the week in its best performance since July.