Shares of non-banking financial companies (NBFCs) came under massive selling pressure Wednesday, plunging up to 13 per cent on liquidity concerns.
Shares of Indiabulls Housing Finance plummeted 13.17 per cent, followed by DHFL 12.34 per cent, Mahindra & Mahindra Financial Services 7.74 per cent and Cholamandalam Investment and Finance Company 6.63 per cent on the BSE.
Among others, Ujjivan Financial Services declined 6.29 per cent, Shriram Transport Finance Company fell 5.98 per cent and Can Fin Homes dipped 4.56 per cent.
NBFCs are facing enormous liquidity crunch in the wake of IL&FS crisis.
In the broader market, the BSE Sensex snapped its three-day gains, plunging 383 points.
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