Shares of gold loan financers, including Muthoot Finance, Manappuram Finance and IIFL Finance, declined 3-6 percent on Wednesday following a sharp downturn in domestic gold prices, which touched their lowest level in nearly a week as a rally in oil prices revived inflation concerns. Besides, investors remained on the edge as they awaited fresh signals on US interest rates ahead of the Federal Reserve’s policy meeting scheduled on October 27-28.
Spot gold was at $4,127.53 per ounce by 1045 GMT after hitting its lowest since October 15 in earlier trade.
Shares of Muthoot Finance ended at Rs 2,489.80, lower 2.97 percent or Rs 76.20 from the previous day's close of Rs 2,566.
Shares of Manappuram Finance closed 5.62 percent or Rs 17.95 lower to end at Rs 301.60, on the NSE. The stock closed at Rs 319.55 on the previous day.
Shares of IIFL Finance today ended at Rs 584.50, 4.57 percent or Rs 28 lower from the previous day close of Rs 612.50, on the NSE.