Sebi whip on 331 shell firms clouds market, infra and realty worst hit

The Indian markets on Tuesday posted their biggest single-day fall in three weeks after the Securities and Exchange Board of India’s (Sebi’s) clampdown on 331 suspected shell companies weighed on investor sentiment and sparked fears of further action.

Real estate and infrastructure shares were the worst hit among the pack. Investors dumped the shares of companies in these sectors, fearing they could face regulatory wrath because of potential links to shell or dubious entities. 

Investor wealth plunged Rs 1.43 lakh crore on Tuesday amid sell-off in the stock market where the BSE benchmark index slumped nearly 260 points.