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# 610 Daily Money Show | Stock Market News
Original: # 610 Daily Money Show | Money Purse Stock Market News
Takeaway
Can Fin Homes uncovered a Rs 38.53 cr employee fraud at its Ambala branch, weighing on the stock; key macro trigger is US Fed.
Summary
- Sensex +351 to 66,707, Nifty +97 to 19,778; tonight US Fed expected to hike 25 bps.
- Can Fin Homes Ambala-branch employees committed Rs 38.53 cr fraud by misusing cheque-signing authority; FIR filed.
- Stock fell sharply on the disclosure as company informed exchanges.
- Detected on July 24; fund transfers appear to have happened over a long period.
- Watch Fed hawkish/dovish commentary for tomorrow's market direction.
Can Fin HomesFraudFedHousing FinanceStock Crash
Original description
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