LIC, Indiabulls Housing Finance struggle on charts; HDFC eyes Rs 2,700-mark

Shares of LIC Housing Finance today slipped below the 200-WMA after falling over 10 per cent. Now, four out of five leading housing finance stocks are trading below the 200-WMA.

With the exception of LIC Housing Finance and Housing Development Finance Corporation, other listed players in the housing finance segment such as PNB Housing Finance, Indiabulls Housing Finance and Can Fin Homes traded beneath the 200-weekly moving average (WMA) as of Tuesday, November 01, 2022.  

On Wedesday, LIC Housing Finance shares too slipped below the 200-WMA, after the stock hit the 10% lower circuit on reporting disappointing earnings for Q2FY23. Further, the regulatory body RBI too levied a Rs 5 lakh penalty on the company for the non-compliance of provisions issued by National Housing Bank (NHB). READ MORE