Indian shares fall as financials weigh; PNB Housing Finance drops

Centrum Capital

21/06/2021 05:04

BENGALURU, June 21 (Reuters) - Indian shares fell on Monday,
weighed down by heavyweight financial stocks, while shares of
housing loans provider PNB Housing Finance  PNBH.NS  dropped
after a regulatory hold on a proposed capital raise.
    The blue-chip NSE Nifty 50 index  .NSEI  fell 0.69% to
15,574 and the benchmark S&P BSE Sensex  .BSESN  fell 0.74% to
51,954.34 by 0355 GMT. Both the indexes on Friday posted their
first weekly fall in five, after the U.S. central bank's hawkish
turn last week.
    The U.S. Federal Reserve's surprise shift also weighed on
broader Asian markets on Monday, with MSCI's broadest index of
Asia-Pacific shares outside Japan  .MIAPJ0000PUS  falling 1% in
early trading.  MKTS/GLOB 
    In Mumbai trading, PNB Housing Finance fell 5% to hit its
lower circuit limit after India's markets regulator asked the
company to put on hold a share allocation to a clutch of
investors led by private equity firm Carlyle Group  CG.O .
 urn:newsml:reuters.com:*:nL2N2O202V
    Shares of investment banking company Centrum Capital
 CENC.NS  gained more than 16% after India's central bank
approved the takeover by the company's unit of the troubled
Punjab and Maharashtra Co-operative Bank.  urn:newsml:reuters.com:*:nL3N2O02PC
    Heavyweight financial stocks were the biggest drags on the
Nifty 50, with the Nifty Bank Index  .NSEBANK  falling 1.09% and
setting it on track for a fourth straight session of declines.  
      

 (Reporting by Anuron Kumar Mitra in Bengaluru; editing by
Uttaresh.V)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))