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 points at 35,793 at 02:53 pm.
“The MPC decided to keep the policy repo rate on hold and maintain the stance of calibrated tightening. While the decision on keeping the policy rate unchanged was unanimous, Dr. Ravindra H. Dholakia voted to change the stance to neutral. The MPC reiterates its commitment to achieving the medium-term target for headline inflation of 4% on a durable basis,” the Central Bank said in a press release.
Analysts at Kotak Securities expect liquidity conditions to remain tight in the rest of FY2019 on the back of currency in circulation (CIC) leakage, build-up of cash reserve ratio (CRR) build-up of cash balance amid calibrated government spending to adhere to fiscal targets.