Economic TimesLean R·
Manappuram Finance, Muthoot Finance, other gold financier stocks drop up to 3%. Here's why
The shares of gold financiers dropped up to 3% after gold prices plunged as the dollar headed towards its sharpest monthly gain in almost a year on rising expectations of Federal Reserve interest rate hikes this year.Manappuram Finance shares tumbled nearly 3% to trade at Rs 309.35 apiece on NSE, while those of Muthoot Finance and IIFL Finance fell over 2% each.The dollar index, which tracks the US currency against a basket of six major peers, climbed to a more than one-year high on Wednesday a…
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