Inflation woes! Rate sensitive indices slump 5%; 18 stocks hit 52-week lows

Shares of interest rate sensitive sectors were under severe pressure on Monday, with financials including banks, non banking finance companies (NBFCs), housing finance companies (HFCs), automobiles and real estate sector stocks down up to 6 per cent on the National Stock Exchange (NSE) in intra-day trade on concerns of reversal in interest cycle due to rising inflation.

Nifty Auto, Nifty Realty, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services indices were down in the range of 4 per cent to 5 per cent on the NSE. In comparison, the Nifty50 index was down 2.75 per cent at 09:38 am. Total 18 stocks from these indices hit their respective 52-week lows.