Top Nifty gainers and losers: SBI Life Insurance up; SBI, Axis sink

..,.

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. About 1923 shares advanced, 1674 shares declined, and 121 shares unchanged.

SBI Life Insurance Company Ltd: Shares of the insurance major surged 4 percent to Rs 1,413 on November 17, extending gains for the third day in a row and becoming the top gainer on the index. As many as 21 lakh shares changed hands as against the 1-month average of 8 lakh shares. The surge comes after global brokerage firm Morgan Stanley turned overweight on the company.

HDFC Life Insurance Company Ltd: Shares of the company advanced nearly 3 percent to Rs 653, a day after the stock traded in the red. Over the last five sessions, the scrip has surged nearly 5 percent on the exchanges. Over 26 lakh shares changed hands on the bourses, higher than the 1-month average of 21 lakh shares.

Hero Motocorp Ltd: Shares of the two-wheeler major climbed almost 2 percent to Rs 3,334, extending gains for the fifth day in a row. The surge comes after it announced its highest-ever retail sales during India's month-long festive season. The two-wheeler manufacturer revealed in a Thursday exchange filing that it sold over 1.4 million units in the retail market during the 32-day festive period, marking a 19 percent year-on-year growth.

L&T Ltd: Shares of the construction major rose 1.9 percent to Rs 3,109 on November 17, a day after the stock fell 0.5 percent on the exchanges.

Apollo Hospitals Enterprises Ltd: Shares of the healthcare giant rose nearly 3 percent to Rs 5,478, rallying for the third day in a row on November 17. About 5 lakh shares changed hands, matching the 1-month average. Brokerage firm Prabhudas Lilladher, in a recent report, mentioned its bullish stance on the stock citing a solid growth platform across segments.

SBI Ltd: Shares of India's largest public sector lender slumped over 3 percent to Rs 563 a day after the Reserve Bank of India (RBI) tightened norms for personal loans and credit cards to check the unbridled growth in this segment.

Axis Bank Ltd: Shares of the private lender tanked close to 3.5 percent to Rs 994 after the RBI tightened norms for personal loans and credit cards to check the unbridled growth in this segment. The central bank has raised credit risk weights on unsecured consumer loans by increasing the capital requirements for such loans as concerns have been growing over these borrowings.

ONGC Ltd: Shares of the oil exploration major fell over 2 percent to Rs 196 after crude oil prices dropped to a four-month low. Typically, a drop in the crude price has a negative impact on the company's profitability due to lower realizations from its revenues.

Bajaj Finance Ltd: Shares traded in losses by falling 1.7 percent to Rs 7,236 after the Reserve Bank of India (RBI) tightened the norms for personal loans and credit cards. A day earlier, the central bank increased the risk weight on consumer loans as the unbridled growth of these unsecured loans has been causing concern. The move, in the form of higher capital requirements, could raise lending rates for unsecured customer loans.

BPCL Ltd: Shares of the petroleum major fell 2.2 percent to Rs 390, snapping its three-day gaining streak on the bourses. The drop comes after crude oil prices dropped to a four-month low. Typically, a drop in the crude price has a negative impact on the company's profitability due to lower realizations from its revenues.