Financials drop post DHFL
crisis, liquidity issues, and trimmed GDP growth projections were among the
major factors that dragged the markets lower on Thursday. The benchmark S&P BSE Sensex slipped 554 point, to 39,530, with IndusInd Bank, Tata Steel,
YES Bank, Larsen & Toubro, and State Bank of India were among the top
losers. Only eight of the 30 BSE Sensex constituents ended the day in the green. The broader Nifty50
index tumbled 178 points to 11,844.Buzzing
stocksShares of Dewan Housing Finance Corporation (DHFL) tanked
15.86 per cent to Rs 93.90, hitting an over five-year low on the BSE after
rating agencies downgraded its commercial papers, citing delays in debt
servicing. The stock was trading at its lowest level since December 23, 2013 on
the BSE. Shares of Eros International Media were hammered by heavy
selling during the early morning deals on Thursday after ratings company CARE
cut its long-term loan facilities ratings from 'BBB-' to 'D'. The stock was
locked in the lower circuit of 20 per cent at Rs 53.10 per share on the BSE,
which was also its lifetime low. Shares of GAIL (India) hit an over three-month low of Rs
316.3, down 11.77 per cent, on the BSE on the back of heavy volumes. The stock
was quoting at its lowest level since February 26, 2019.
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