Nifty posts biggest single-day loss in six months as housing finance stocks slide
Photo Credit: Thinkstock

Indian shares fell more than 1 percent and ended lower for a fifth straight session on Monday, dragged by financials such as Indiabulls Housing Finance Ltd and Housing Development Finance Corp Ltd as investors continued to trim exposure to non-banking financial companies.

Indiabulls Housing Finance extended losses to a second session, closing 7.3 percent lower. The benchmark indexes had plunged more than 3 percent on Friday as housing finance stocks witnessed heavy selling on worries over weak balance sheets.

The broader NSE Nifty ended 1.58 percent lower at 10,967.4, its biggest single-day percentage loss since March 16.

Leave Your Comment(s)