Jio Financial Services Limited (JFSL) shares hit the lower circuit for the fourth consecutive trading session, dropping by 4.99% due to selling by mutual funds.
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Index funds pressure
The stock, part of the T group of shares, faces selling pressure from index funds restructuring their portfolios.
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Sensex exclusion postponed
JFSL's exclusion from the Sensex indices has been postponed to August 28, with removal from all S&P BSE indices before trading on August 29.
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Removal date uncertain
If the stock continues to hit the lower circuit, the removal date may be extended. Market experts expect the selling pressure to continue.
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Positive outlookremains
Despite institutional selling, JFSL's outlook remains positive, with an expected loan book of around $50 billion by March 2025.