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Wednesday, 11 January 2017

With markets trading firm and trading in green housing finance companies are soaring on bourses by recording impressive gains. Tamil Nadu based Repco Homes is buzzing with gains of more than 4.5% on Wednesday’s session. DHFL is up by more than 3%, GRUH finance is up by more than 2.4% whereas India bulls housing finance is up by more than 2%.

Along with the housing finance companies other finance companies such as Shri Ram Transport Finance is up by more than 3% and Mannapuram Finance is up by more than 2.8%. Market is recovering from the demonetisation blues after it was widely expected that the harsh policy decision on monetary front by banning Rs 500 and Rs 1000 notes will have a negative impact on the health of the Indian economy.

Markets are pricing the slowdown owing to demonetisation and have started taking cues on the events ahead such as budget, earnings, and RBI rate cut decisions. It is widely speculated that RBI may cut policy rates in the next RBI meet.
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