Housing finance companies took a beating during the Friday morning trading session. Almost all companies were trading in red territory, except HUDCO and SRG Housing Finance which were trading flat. Sahara Housingfina Corporation was trading lower by 7.8% at Rs 51.15 per share at 1032 hours on BSE. It was the top losing stock amongst other housing finance companies. India Home Loan was down 4.5% at Rs 110.25 per share, Indiabulls Housing Finance was down 4.2% at Rs 1066.95 per share, Dewan Housing Finance Corporation was down 3.4% at Rs 440.50 per share and PNB Housing Finance was also down 2.9% at Rs 1,532.40 per share. Other stocks viz. Can Fin Homes was down 2.8% at Rs 3,156.90 per share, Repco Home Finance was down 2.3% at Rs 847 per share, LIC Housing Finance was down 1.7% at Rs 756.15 per share and GIC Housing Finance was also trading lower by 1.3% at Rs 581.35 per share.
The BSE Oil & Gas is one of the top losing indices in Friday’s morning session. It is down 1.1% at 13,310. Indian Oil Corporation is contributing majorly to the index losses and dragging it to lower levels. IOC is down 2.9% at Rs 382.10 per share. Other stocks in the index viz. ONGC is down 1.2% at Rs 158.50 per share, BPCL is down 1.7% at Rs 631.20 per share, GAIL is down 1.6% at Rs 353.95 per share, HPCL is down by 0.9% at Rs 507 per share, Indraprastha Gas is down 1.8% at Rs 1056.90 per share, Oil India is down 1.6% at Rs 278 per share and Castrol India is also trading lower by 0.9% at Rs 408.15 per share. Meanwhile, Fortis Healthcare tanked following the statement by IHH Healthcare Berhad that it is not close to concluding any negotiations to buy controlling stake in the pharmaceutical company, according to a leading business daily. It was down 9.7% at Rs 178.65 per share. At 11 AM, the S&P BSE Sensex is trading at 31,222 down 68 points, while NSE Nifty is trading at 9,594 down 35 points. A total of 16 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE. The BSE mid-cap Index is trading down 1.18% at 14,588, while BSE small-cap Index is trading down 1.45% at 15,383. Some buying activity is seen Information Technology index, while Metal, Oil & Gas and Realty indices are showing weakness on BSE. Wipro, Power Grid, Sun Pharma and NTPC are among the gainers, Indiabulls Housing Finance, Bosch, IOC and GAIL are losing on the NSE. The INDIA VIX is up 3.5% at 11.6.
