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Business News/ Markets / Live Blog/  Market Highlights: Bank, Finance, IT stocks drag Sensex and Nifty; SBI Life and L&T shine
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Market Highlights: Bank, Finance, IT stocks drag Sensex and Nifty; SBI Life and L&T shine

1 min read . Updated: 17 Nov 2023, 03:36 PM IST
Vijay Kishore

Share Market Updates: The Indian stock market dragged mostly on Wednesday as Sensex ended 190 pts lower and Nifty 35 pts. Bank and NBFC to dragged with SBI, Bajaj FInance, and Axis Bank as biggest laggards, while SBI Life and L&T jumped. Pharma and FMCG sectors jumped the most.

Sensex Today | Share Market Updates: Global cues to remain the main driver for the market (iStock)Premium
Sensex Today | Share Market Updates: Global cues to remain the main driver for the market (iStock)

Share Market Updates: Bank and NBFC stocks, as predicted, came under pressure on Friday and dragged the benchmark indices with IT also contributing to the pressure.

The RBI on Thursday tightened norms for personal loans and credit cards in the form of higher capital requirements. The new norms will make personal loans and credit cards costlier and may curb growth in these categories.

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.

17 Nov 2023, 07:37:58 AM IST

Sensex Today Live: Tesla does a tango with Indian parts makers

Indian auto parts makers are emerging as preferred suppliers to Tesla Inc. as it diversifies away from China, two people familiar with the development said, with the US electric car giant often willing to pay a higher price for the shift.

Tesla now sources a range of India-made components from small plastic parts and castings, to complex differential systems used in transmission, and wheel hubs. Industry data sourced by Mint showed that 30 component makers —including Indian firms and multinationals with manufacturing operations in India—exported parts worth $135-150 million to Tesla in 2022-23. (Read More)

17 Nov 2023, 07:31:24 AM IST

Sensex Today Live | Share Market Updates: RBI tightens norms for personal loans and credit cards, raises capital requirements

On Thursday, the Reserve Bank of India (RBI) implemented stricter regulations for personal loans and credit cards by increasing capital requirements. This move is expected to result in higher costs for borrowers and could potentially limit the expansion of these financial categories.

The RBI's latest measures involve raising the risk weights for both banks and non-bank financial companies (NBFCs) by 25 percentage points, bringing the total to 125% for retail loans. This adjustment signifies the amount of capital that financial institutions must reserve for each loan, ultimately influencing the overall cost of personal loans and credit cards. (Read More)

17 Nov 2023, 07:29:08 AM IST

Sensex Today: Wall Street drifts on Thursday amid worries about profits and hopes for a just-right economy

Stocks drifted to a mixed finish Thursday as Wall Street’s momentum slowed following its hot first half of November.

The S&P 500 edged up by 5.36 points, or 0.1%, to 4,508.24 and remains comfortably on track for its third straight winning week. The Dow Jones Industrial Average slipped 45.74, or 0.1%, to 34,945.47, and the Nasdaq composite gained 9.84, or 0.1%, to 14,113.67.

Walmart weighed on the market with an 8.1% drop after it warned that shoppers began pulling back on spending late last month. The nation's largest retailer also gave a forecast for upcoming holiday profit that was weaker than analysts expected, despite topping forecasts for results in its latest quarter.

Cisco Systems tumbled 9.8% even though it also reported stronger results for the latest quarter than analysts estimated. The company saw a slowdown of new product orders last quarter, and it gave forecasts for earnings this upcoming quarter and fiscal year that were weaker than analysts expected. (AP)

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