₹1 lakh crore wiped off 12 financial stocks' m-cap amid IRDAI's proposed rules

Over ₹1 lakh crore was erased from the market capitalisation of 12 financial stocks during Thursday's intraday session, Moneycontrol reported. Bajaj Finance accounted for the biggest erosion at ₹29,000 crore, followed by PB Fintech at ₹20,000 crore and HDFC Bank at ₹15,000 crore. IRDAI's proposed changes to limit insurance commissions, along with broader market weakness, contributed to the drop.