NBFCs, home fin cos down as buying shifts to PSU banks

Housing Development Finance Corp was down 2.5%, while Bajaj Finance declined by nearly 5%.

Oct 25, 2017 07:10 IST India Infoline News Service

Broker stock market crash
Shares of non-banking finance and housing finance companies were weak today as investor interest shifted to PSU banks after the announcement of government's Rs 2.1 lakh crore recapitalization plan.

Housing Development Finance Corp was down 2.5%, while Bajaj Finance dipped by nearly 5%; Bajaj Finserv was down 5.5%, Dewan Housing Finance Corp declined 3.5%, and Indiabulls Housing Finance slid by 4.5% at around 1 PM.

Meanwhile, public sector banks continued to surge 11-25% as the government's recapitalisation plan kindled hopes that the five-year long bad loan crisis will end as the move is expected to stimulate the flow of credit to spur private investment.

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