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Manappuram Finance, Muthoot Finance, other gold financier stocks drop up to 3%. Here's why
Shares of gold financiers declined as a sharp fall in gold prices and a stronger US dollar weighed on sentiment. Expectations of further US Federal Reserve rate hikes pressured bullion, raising concerns over collateral values and loan demand for gold-backed lenders such as Manappuram Finance, Muthoot Finance and IIFL Finance.
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economictimes.indiatimes.com
Timeline cronologica
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Gold futures sink to three-month low as dollar rally batters bullion
India's gold prices hit a three-month low on Wednesday, dropping to Rs 1.44 lakh per 10 grams, as global markets react to a bolstered US dollar and expectations for elevated…
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Manappuram Finance, Muthoot Finance, other gold financier stocks drop up to 3%. Here's why
Shares of gold financiers declined as a sharp fall in gold prices and a stronger US dollar weighed on sentiment. Expectations of further US Federal Reserve rate hikes pressured…