Furthermore, credit growth, which bottomed out in April at about 5%, increased to about 7% in November
Bank Nifty index closed the week on a negative note, facing resistance around 37,300 levels post a brief bounce
IndusInd Bank was the top loser in the Sensex pack, shedding around 5%, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC
In opening trades, Sensex slipped 511 points or 0.88% to 57,389. Similarly, Nifty was quoting at 17,084 plunging 163 points or 0.95%.
Asian stocks are trading mixed on Friday, following overnight losses on Wall Street.
Axis Securities is bullish on Infosys with a price target of Rs 1,830 - 1,845 per share.
The 30-share index advanced 113.11 points or 0.20% to settle at 57,901.14 while the NSE Nifty rose 27 points or 0.16% to 17,248.40
Infosys was the top gainer in the Sensex pack, rising over 2%, followed by Bajaj Finance, HCL Tech, Tata Steel, Tech Mahindra and NTPC
Among NBFCs, we think Cholamandalam Finance would be a dark horse, given that second-hand vehicles are seeing a huge amount of buying and selling
In opening trades, Sensex slipped 125 points or 0.22% to 57,991. Similarly, Nifty was quoting at 17,304 declining 20 points or 0.12%.