Financials trade weak post RBI policy; DHFL, Reliance Capital down over 5%

Reliance Capital, DHFL, IDFC, Equitas Holdings, Can Fin Home Finance, M&M Financial Services and Ujjivan Financial Services were down in the range of 5% to 7% on the BSE.

Shares of financial stocks led by non-banking finance companies (NBFC), housing finance companies (HFCs) and micro-finance institutions (MFIs) have fallen by up to 7% after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 6.50%. The committee maintained the calibrated tightening stance.

Reliance Capital, Dewan Housing Finance Corporation (DHFL), IDFC, Equitas Holdings, Can Fin Home Finance, Mahindra & Mahindra (M&M) Financial Services and Ujjivan Financial Services were down in the range of 5% to 7% on the BSE. In comparison, the S&P BSE Sensex was down 0.94% or 341