Housing finance firms crashes on friday with Dewan Housing Finance tumbling up to 60 percent

Shares of housing finance firms came crashing sharply Friday, with Dewan Housing Finance tumbling up to 60 percent on massive selling.

The scrip of Dewan Housing Finance Corporation plummeted 59.67 percent to Rs 246.25 -- its 52-week low -- on BSE.

Among others, Indiabulls Housing Finance nosedived 35 percent, Gruh Finance tumbled 17.66 percent, Can Fin Homes plunged 14.55 percent, PNB Housing Finance tanked 9.23 percent.

The broader market also witnessed huge sell-off, with the BSE benchmark index crashing over 1,100 points within a matter of minutes during the afternoon trade.

The index had plunged 1,127.58 points, or 3.03 percent, to hit an intra-day low of 35,993.64. It, however, recovered nearly 900 points within minutes of the fall.