₹85,000 crore gone! PB Fintech to HDFC Bank — these 5 financial stocks witness highest wealth erosion on IRDAI's move
60-Word AI Digest
Financial stocks faced significant selloff on Thursday due to proposed changes by IRDAI to insurance distribution and commission structures, erasing ₹1.12 lakh crore in market capitalisation. Major losses were seen in Bajaj Finance, PB Fintech, HDFC Bank, and Axis Bank, leading the decline.
Key Takeaways
- Financial stocks faced significant selloff on Thursday due to proposed changes by IRDAI to insurance distribution and commission structures, erasing ₹1.12 lakh crore in market capitalisation.
- Major losses were seen in Bajaj Finance, PB Fintech, HDFC Bank, and Axis Bank, leading the decline.
- Full details and original dispatch available below.
Financial stocks faced significant selloff on Thursday due to proposed changes by IRDAI to insurance distribution and commission structures, erasing ₹1.12 lakh crore in market capitalisation. Major losses were seen in Bajaj Finance, PB Fintech, HDFC Bank, and Axis Bank, leading the decline.
Original Publisher Attribution
This summary was curated from Livemint.