Shares of Indiabulls Housing Finance nosedived more than 15 percent to hit a fresh 52-week low of Rs 662.3 on Friday. The stock has been on a downtrend since Monday and has fallen 28.71 percent this week.

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For the week, the stock has shed more than 28 percent of its value. This month alone the stock has fallen about 42 percent.

Indiabulls Housing Finance shares traded at Rs 672.55, still down by 14.6 percent at 11.15 am on the NSE. The stock opened at Rs 770 today and has lost more than Rs 100 intra-day.

Meanwhile, benchmark indexes continue to trade under pressure with the Sensex falling more than 400 points, or 1.2 percent, to trade at 34,367 at 11.16 am. The Nifty traded nearly 1.5 percent lower, below the 10,300 mark, erasing 154 points.

Nifty Financial Services index traded 0.69 percent lower at 10,344. Indiabulls Housing Finance was the top loser on the sectoral index.

HDFC, PFC, ICICI Bank and Kotak Bank, along with Bajaj Holdings were among the top gainers.

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