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Shares of housing finance firms crashed sharply on Friday, with Dewan Housing Finance tumbling up to 60 per cent on massive selling.
Dewan Housing Finance Corporation shares plummeted 59.67 per cent to Rs 246.25 -- its 52-week low -- on the BSE.
Indiabulls Housing Finance nosedived 35 per cent, Gruh Finance tumbled 17.66 per cent, Can Fin Homes plunged 14.55 per cent, PNB Housing Finance tanked 9.23 per cent.
The broader market also witnessed huge sell-off, with the BSE benchmark index crashing over 1,100 points within a matter of minutes during the afternoon trade. The index had plunged 1,127.58 points, or 3.03 per cent, to hit an intra-day low of 35,993.64. It, however, recovered nearly 900 points within minutes of the fall.
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