Nifty Financial Services index closed down 3.03% at 15560.1 today. The index has slipped 1.00% over last one month. Among the constituents, Shriram Transport Finance Company Ltd dropped 5.03%, Housing Development Finance Corporation Ltd fell 4.68% and HDFC Bank Ltd slipped 4.09%.
The Nifty Financial Services index has soared 47.00% over last one year compared to the 48.39% increase in benchmark Nifty 50 index. In other indices, Nifty Bank index has dropped 2.77% and Nifty Private Bank index has slid 2.35% on the day. In broad markets, the Nifty 50 has declined 1.77% to close at 14631.1 while the SENSEX has slid 1.98% to close at 48782.36 today.
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Read more about Financials shares fall on Business Standard. Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 156.26 points or 2.09% at 7313.76 at 13:49 IST.
Housing Development Finance Corporation Ltd is quoting at Rs 2596.45, up 3.1% on the day as on 12:49 IST on the NSE. The stock is up 41.36% in last one year as compared to a 55.32% gain in NIFTY and a 55.01% gain in the Nifty Financial Services.
Housing Development Finance Corporation Ltd rose for a fifth straight session today. The stock is quoting at Rs 2596.45, up 3.1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.26% on the day, quoting at 14838.1. The Sensex is at 49640.17, up 1.42%. Housing Development Finance Corporation Ltd has dropped around 0.35% in last one month.
Meanwhile, Nifty Financial Services index of which Housing Development Finance Corporation Ltd is a constituent, has dropped around 0.52% in last one month and is currently quoting at 15589.25, up 2.34% on the day. The volume in the stock stood at 14.82 lakh shares today, compared to the daily average of 37.46 lakh shares in last one month.
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NEW DELHI: Shares of Indiabulls Housing climbed 9 per cent in an otherwise weak trading session on Thursday after the housing finance company (HFC) entered into a strategic co-lending partnership with HDFC to offer housing loans to homebuyers at competitive rates.
HDFC is the market leader in the housing finance industry with assets under management of Rs 5,52,167 crore.
As per the agreement, Indiabulls Housing will originate retail home loans as per jointly drawn up credit policy and retain 20 per cent of the loan in it s books and 80 per cent will be on HDFC books. Indiabulls Housing will service the loan account throughout the life cycle of the loan.