Some of the banking as well as housing finance companies stocks saw severe beating today which dragged the markets down. Among housing finance companies, Dewan Housing Finance (DHFL) stock was the worst performing.

The Sensex and Nifty crashed in afternoon trade today amid heavy selling in housing finance companies stocks. NBFC stocks crashed and spooked Sensex and Nifty which fell nearly 1,128 points and 368 points, respectively. However, the indices later recovered on management of these companies allaying concerns over their financial position. Watch BusinessToday.In video.

What brought on the heavy selling in the stocks of non-banking finance companies (NBFCs)? Blame it on tightness in the money market and investor concerns over rising cost of borrowing for the companies amid continuing financial crisis at IL&FS.

The stock of Dewan Housing Finance fell 59.67% or 364 points to a new low of 246.25, the most among the NBFCs.

However, the indices later recovered on management of these companies allaying concerns over their financial position.

Brokers said weakness was seen in most Asian markets as investors were cautious amid fears of a possible escalation in the US-China trade conflict.

Sectorally, auto and banking stocks were the top losers with BSE auto index falling 248 points and BSE bankex losing 241 points. On Nifty, top losers were Bajaj Finance, Sun Pharma and Bajaj Finserv.

Payments banks can only accept deposits of up to Rs 1 lakh per customer in a savings/current account.

An investment of Rs 1 lakh into the stock three years ago would have turned into Rs 5,79,567 corpus in the current scenario. The rise in stock price can be attributed to a host of factors such as consistent rise in net profit, interest income, loan book and sales.

Digitisation has reached a level where you can manage your entire financial world with clicks and taps. Here is what all you can do and how you can manage personal finance digitally.

Aditya Puri said that Sukthankar left because of some personal reasons and his exit had nothing to do with HDFC Bank's succession plan. He, however, said that Sukthankar was among the contenders for CEO position.

Affordable housing is picking up pace, thanks to proactive policies and savvy investors/developers. But sustaining the momentum is a tall order.

Banking rally was led by Bank of Baroda whose stock hit a fresh 17 week high level of 151.90 after the public sector lender reported a more than two-fold rise in Q1 net profit to Rs 528.26 crore.

Reliance Nippon AMC recently got listed, while HDFC AMC would be entering the market next week. Let's look at how the HDFC AMC will be valued in the market.

Bajaj Auto (3.95%), Maruti Suzuki (2.69%), HDFC (2.09%) and HUL (2.03%) were the top Sensex gainers. Stocks of rural players such as Hero MotorCorp  (0.43%) and Mahindra and Mahindra (0.69%) too closed higher on the development.

The stock of the firm which stood at 5.50 on March 10, 2000 is currently trading at 1482 level on the BSE gaining over 26,000% during the above period.

As banks and financial institutions integrate fintech solutions with their core banking platform, it's a win for both.

The BJP government announced a slew of schemes after it assumed power in 2014 winning 336 Lok Sabha seats out of 543 seats. Work under most of these schemes is still under progress an year ahead of General Election 2019.