The lists include Aurobindo Pharma, Bharat Heavy Electricals (BHEL), Coal India, Hindalco Industries, JSW Steel, Motherson Sumi Systems, Tata Power, Tata Chemicals, and Indiabulls Housing Finance.
At 09:46 am, the S&P BSE Sensex
(at 36,501) and S&P BSE 500 index (at 13,911) were down nearly 2 percentage points each. The S&P BSE 500 index is 5 per cent away from its 52-week low
of 13,287 touched on October 26, 2018 in the intra-day trade.
The National Stock Exchange's (NSE), Nifty 50 index, too, slipped 1.6 per cent at 10,821 points.
Since July, foreign portfolio investors (FPIs) have withdrawn a net Rs 14,482 crore ($2.1 billion) from Indian equities. This sell-off was triggered mainlly post the budget day as FPIs looked extremely disappointed due to some announcements.
“We came off sharply since then on domestic concerns and to make it worse, some escalation with respect to US China trade war extended the correction in Nifty to tank below the 11000 mark for the first time since January,” brokerage firm Angel Broking said in client note.
Among individual stocks, Dewan Housing Finance Corporation (DHFL) tanked 12 per cent to its multi-year low of Rs 41 in the intra-day today, after Deloitte quit as its auditor, a PTI report said, citing sources. The cash-strapped NBFC sits on a debt pile of Rs 90,000 crore and has defaulted on its various repayment obligations in a serial manner in the recent past.
Meanwhile, over the past month, Coffee Day Enterprises, Indiabulls Integrated Services and Vodafone Idea have plunged more than 50 per cent. DHFL, CARE Ratings, Indiabulls Ventures, Tejas Networks, Bliss GVS Pharma and Magma Fincrop slipped in the range of 40 per cent to 50 per cent.