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Stock market update: NBFCs mixed; DHFL rises, but Bajaj Finance cracks

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NEW DELHI: After suffering major losses on Friday, non-banking financial (NBFC) stocks were trading mixed in the morning session of trade on Monday.

Shares of Monarch Networth Capital (up 13.99 per cent), Dewan Housing Finance Corporation (DHFL) (up 13.27 per cent), Mangalam Industrial Finance (up 9.68 per cent), Arnold Holdings (up 9.48 per cent), Swastika Investmart (up 9.38 per cent) and PML (up 9.11 per cent) were trading higher. Stocks such as AIIL (up 6.64 per cent), Pro Fin Capital Services (up 6.02 per cent), Ashirwad Capital (up 5.86 per cent), Golden Goenka Fincorp (up 5.73 per cent), Elixir Capital (up 5.28 per cent), Comfort Intech (up 5.11 per cent), BLFL (up 4.95 per cent), Gowra Leasing Finance (up 4.95 per cent) and Nagreeka Capital Infrastructure (up 4.95 per cent) jumped up to 6 per cent.

On the flip side, Acme Resources (down 17.40 per cent), Reliance Home Finance (down 9.02 per cent), Akme Star Housing Finance (down 8.17 per cent), Bajaj Finance (down 7.55 per cent), Religare Enterprises (down 7.52 per cent), Edelweiss Financial Services (down 7.39 per cent), India Cements Capital (down 7.18 per cent) and Crest Ventures (down 7.08 per cent) plunged. Capri Global Capital (down 6.87 per cent), Repco Home Finance (down 6.41 per cent), Ujjivan Financial Services Limited (down 6.22 per cent), Mcdowell Holdings (down 6.14 per cent), IIFL Holdings (down 6.08 per cent), HB Portfolio (down 6.02 per cent) and Muthoot Finance (down 5.87 per cent) declined up to 7 per cent.

Domestic equity benchmarks on Monday entered into the red after kicking off the trade on a firm note, thanks to lack of directional cues from peers, as concerns over no immediate relief from rising crude oil prices after Russia and Saudi Arabia’s crude output comments and weakening rupee weighed on the domestic sentiment. The NSE Nifty50 index was trading 100 points down at 11,043 around 10:15 am.

The 30-share BSE Sensex was down 267 points at 36,574 around the same time. In the Sensex index, 12 stocks were advancing and 19 were declining.

ONGC, Infosys, Tech Mahindra, Coal India, Vedanta and Hindustan Unilever were among the heavyweights that were trading with gains. However, IndusInd Bank, Ultratech Cement, Maruti Suzuki India, Mahindra Mahindra and HDFC were among the top heavyweight losers.




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