Banking, realty stocks tank on BSE amid home loan scam probe
LIC Housing Finance plummeted 18.32 per cent to settle the day at Rs 1,068.55, dragging the banking index by nearly three per cent.
By PTI |
MUMBAI: CBI raids in connection with alleged multi-crore housing loan scam pulled down finance and realty shares, which plunged up to 18 per cent, on the Bombay Stock Exchange today.
The CBI conducted raids across the country and arrested top officials of LIC Housing Finance, Central Bank and Punjab National Bank on bribery charges.
LIC Housing Finance plummeted 18.32 per cent to settle the day at Rs 1,068.55, dragging the banking index by nearly three per cent.
The realty index closed three per cent down with major index constituents tanking significantly. DB Realty fell 16.23 per cent to finish the day at Rs 261.35, HDIL plunged 5.28 per cent to close at Rs 206.45.
Analysts attributed the huge sell-off in the two sectors on reports of CBI raids, besides overall market weakness.
Major losers in the banking segment included Central Bank of India, which dropped 8.08 per cent to Rs 197.9; ICICI Bank down 2.73 per cent; Punjab National Bank (3.1 per cent); State Bank of India (3.34 per cent); Canara Bank (7.23 per cent), Bank of India (5.88 per cent); Axis Bank (2.53 per cent) and Money Matters Financial Services (20 per cent).
Other realty players in the negative territory included -- Orbit Corp, down 7.08 per cent at Rs 87.95; Indiabulls Real Estate 4.29 per cent at Rs 162.90 and realty major DLF, down 3 per cent at Rs 305.35.
The 30-share sensitive index Sensex closed down 231.99 points at 19,459. 85.
The CBI conducted raids across the country and arrested top officials of LIC Housing Finance, Central Bank and Punjab National Bank on bribery charges.
LIC Housing Finance plummeted 18.32 per cent to settle the day at Rs 1,068.55, dragging the banking index by nearly three per cent.
The realty index closed three per cent down with major index constituents tanking significantly. DB Realty fell 16.23 per cent to finish the day at Rs 261.35, HDIL plunged 5.28 per cent to close at Rs 206.45.
Analysts attributed the huge sell-off in the two sectors on reports of CBI raids, besides overall market weakness.
Major losers in the banking segment included Central Bank of India, which dropped 8.08 per cent to Rs 197.9; ICICI Bank down 2.73 per cent; Punjab National Bank (3.1 per cent); State Bank of India (3.34 per cent); Canara Bank (7.23 per cent), Bank of India (5.88 per cent); Axis Bank (2.53 per cent) and Money Matters Financial Services (20 per cent).
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Other realty players in the negative territory included -- Orbit Corp, down 7.08 per cent at Rs 87.95; Indiabulls Real Estate 4.29 per cent at Rs 162.90 and realty major DLF, down 3 per cent at Rs 305.35.
The 30-share sensitive index Sensex closed down 231.99 points at 19,459. 85.
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