Taking Stock: Market in red as RBI loan move weighs heavy, PSU banks worst hit

On November 17, the Sensex was down 187.75 points or 0.28 percent at 65,794.73, and the Nifty was down 33.40 points or 0.17 percent at 19,731.80. About 1925 shares advanced, 1670 shares declined, and 123 shares unchanged.

The Indian equity benchmarks snapped a two-day winning streak to close lower on November 17 as financials came under pressure following the Reserve Bank of India's move to tighten norms for personal loans and credit cards.

At close, the Sensex was down 187.75 points, or 0.28 percent, at 65,794.73, and the Nifty was down 33.40 points, or 0.17 percent, at 19,731.80.

For the week, BSE Sensex and Nifty50 gained 1.5 percent each.

After a negative start, the benchmarks erased the losses and turned positive in the initial hours but again took a beating in a volatile session amid a mixed sectoral trend.

Banking stocks were under pressure after the central bank raised credit risk weights on unsecured consumer loans by increasing the capital requirements for banks and NBFCs for these loans to curb the proliferation of such borrowings.

The Nifty Bank shed 1.3 percent, with IDFC First Bank, SBI, Axis Bank, Bandhan Bank, PNB down 2-3 percent each.

Also Read - Banks, NBFCs may raise rates after RBI’s action on consumer loans, experts say

Stocks and Sectors

Index	Prices	Change	Change%
Sensex	84,404.46	-592.67	-0.70%
Nifty 50	25,877.85	-176.05	-0.68%
Nifty Bank	58,031.10	-354.15	-0.61%

Nifty 50 25,877.85 -176.05 (-0.68%)

Thu, Oct 30, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Coal India	387.70	5.70	+1.49%

Biggest Loser	Prices	Change	Change%
Dr Reddys Labs	1,202.20	-48.70	-3.89%

Best Sector	Prices	Change	Change%
Nifty Energy	36392.60	44.70	+0.12%

Worst Sector	Prices	Change	Change%
Nifty Bank	58031.10	-354.20	-0.61%

SBI, Axis Bank, ONGC, BPCL and Bajaj Finance were among the top losers on the Nifty, while gainers included SBI Life Insurance, HDFC Life, Apollo Hospitals, Larsen & Toubro and Hero MotoCorp.

Among sectors, auto, capital goods, FMCG, pharma and realty were up 0.5 percent each, while the PSU Bank index shed 2.5 percent and the oil & gas index 1.3 percent.

Broader indices outperformed the benchmarks, with BSE midcap and smallcap indices hitting new highs of 33,423.33 and 39,690.72.

A long build-up was seen in TVS Motor Company, SBI Life and ICICI Lombard General Insurance Company, while a short build-up was seen in RBL Bank, SBI Card and Aditya Birla Capital.

Among individual stocks, a volume spike of more than 300 percent was seen in SBI Cards & Payment Services, Indiabulls Housing Finance and ICICI Lombard General Insurance Company.

Tata Investment Corporation, Varroc Engineering, Solar Industries, PCBL, Narayana Hrudayalaya, General Insurance Corporation of India, IRB Infra, Prism Johnson, PNB Housing Finance and SBI Life Insurance were among the stocks to touch their 52-week high on the BSE. Click here for the full list

Outlook for November 20

Rupak De, senior technical analyst, LKP Securities:

The Nifty largely traded within a range, showing a predominantly bullish sentiment. Over the past two to three days, a buy-on-dips approach has been loved by the street since the Nifty crossed the crucial 19,500 mark.

The trend is expected to stay positive as the index has consistently closed above the critical moving averages. Support levels are at 19,630-19,500 on the lower end, while resistance is placed at 19,850-20,000 on the higher end.

Ajit Mishra, SVP - Technical Research, Religare Broking:

Markets took a breather after two days of advance and ended marginally lower. After the initial downtick, Nifty hovered in a narrow band for most of the session and finally settled at 19731.80 levels. Meanwhile, mixed trends on the sectoral front kept the traders busy wherein pharma, FMCG and auto posted decent gains while banking and energy were on the back foot. Interestingly, the broader indices managed to extend their prevailing tone and ended flat.

The underperformance of the banking pack has started weighing on the sentiment again however buoyancy in other sectors is capping the damage. Going ahead, the performance of the global markets, especially the US, will remain in focus for cues. We suggest continuing with positive bias until Nifty breaches 19,450 and prefer sectors other than banking and financials for long trades.

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