The Reserve Bank of India’s draft guidelines for non-banking financial companies (NBFCs) weighed heavily on Indian equity markets on Thursday, overshadowing a wave of strong first-quarter earnings reports from major listed firms.
Bajaj Finance shares plunged nearly 6 per cent, while Bajaj Finserv fell 3.7 per cent, as investors digested the potential impact of the proposed lending framework on the sector’s growth trajectory.
The NSE Nifty 50 also mirrored the downward trend, slipping 159 points in the previous session as investor caution persisted.
The regulatory uncertainty triggered broader selling pressure across financial stocks, dragging the benchmark indices lower despite positive corporate fundamentals.
The decline marks a continuation of recent weakness in Indian equities.
The BSE Sensex had shed 442 points to close at 77,708 on Monday, followed by a further drop of 210 points on Tuesday.
The NSE Nifty 50 also mirrored the downward trend, slipping 159 points in the previous session as investor caution persisted.