Sensex, Nifty decline on selloff in banking, financial stocks

November 17, 2023 17:11

KBK Infographics

In a volatile trade, equity benchmark indices Sensex and Nifty declined on Friday, dragged down by heavy selling pressure in banking, financial and energy stocks amid mixed cues from global markets.

However, lower global crude prices and fresh foreign capital inflows helped the indices restrict the losses, as per traders.

Shares of bank and NBFC firms fell sharply 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.

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