HDFC slips 5% on huge volumes

Housing Development Finance Corporation (HDFC) has slipped over 5% to Rs 611 on back of huge volumes. As many as a combined 3.38 million shares have changed hands on the counter till 1045 hours, against an average 2.6 million shares that were traded daily in past two weeks on the NSE and BSE.

According to report, the weighting of India’s biggest mortgage lender gets reduced in the MSCI indexes after its annual review.

MSCI has added Cairn India, Bank of Baroda and Godrej Consumer Products to its global indices, while deleting Suzlon Energy with effect from May 31, 2012.