Banking stocks drag markets down as RBI extends moratorium

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Banking stocks drag markets down as RBI extends moratorium

May 22, 2020 13:49 IST

Indian equity markets fell in the first half on Friday as banking and financial stocks plunged soon after the RBI announced to extend the moratorium on term loans by another three months. At 11:45 am, the Sensex was down 245 points and the Nifty fell 0.86% to trade around 9,000 levels. Axis Bank, HDFC, Bajaj Finserv, ICICI Bank and Bajaj Finance were the top Nifty losers. Bank Nifty slipped over 800 points from the day's high right after the announcement.

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