Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
Weakness in the rupee against the US dollar also weighed on domestic stocks. The local unit fell 11 paise to 70.60 against the US dollar intra-day.
Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.
In the Indian markets, along with the international gold prices, the rupee rate and government taxes also play an important role in determining gold prices.
Forex traders said a stronger dollar also dragged the rupee down.
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC -- falling up to 4.45 per cent.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
Nifty PSU bank index dropped nearly 2%
Indian capital markets joined the global sell-off sparked by China growth concerns
Besides, a sharp 8% decline in Chinese stocks added to the sell-off in domestic equities
Nifty could fall to 9,500 levels; not a good time to bottom fish, say experts
The 30-share BSE Sensex shed 0.9% or 186 points at 20,536 while the 50-unit NSE Nifty was off 1% or 61 points at 6,091.
Macro-economic data from China and minutes of the US Federal Reserve's last meeting caused the turmoil as stocks tumbled around the globe.
Equity flows have been under pressure since the second half of 2018, after the IL&FS crisis sent shockwaves in both equity and debt markets.
The markets will also keenly eye the HSBC manufacturing and services data.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The broader NSE Nifty too fell over 150 points to crack below the 10,400-mark as financials, IT and energy stocks declined.
In September, net equity inflows stood at Rs 6,609 crore, compared to Rs 9,152 crore in the previous month. In the last four months, this is the lowest net inflow tally seen by the equity category.
'The challenge in India will be reviving consumption/investment.' 'If the negative surprise in earnings is very sharp or lasts longer than March, it can trigger a sharp sell-off.'
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Rate sensitive shares led the decline ahead of RBI monetary policy review tomorrow.
IT major Infosys crashed 8.5 per cent to 3,357.50 on reports that the management expects sluggish growth in January-March quarter in the current financial year.
Late selling in blue-chips like Reliance Industries, ITC, Infosys, TCS and Bharti Airtel dragged down the index from the record level to close flat.
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
Gold, forex assets, IT sector, pharma. Devangshu Datta explains why each of these is a good hedge against market shocks at this time.
Further tapering by the US Fed led to a sell-off in emerging markets on concerns of slowdown in foreign fund inflows
The country's top FMCG stocks, such as Hindustan Unilever, ITC, Nestl, Britannia, Godrej Consumer Products, and Dabur, among others, are currently trading at around 41x their trailing 12-month earnings, down from their peak P/E multiple of around 48x at the end of December 2018.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Foreign institutions are becoming important for the Indian markets.
Debt-ridden Spain plans to sell off part of its airports operator AENA, which the government says could be worth up to 30 billion euros (Rs 1,964 billion), as it seeks ways to reduce the national debt.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
More than 1,500 shares listed in Shanghai and Shenzhen dived by the daily limit.
Trading in Samvat 2074 on Thursday got off to a rocky start, with the benchmark indices ending more than half a percent lower and the gauge for banking stocks dropping 1.25%.
As far as your long-term plans are concerned, there is no need to effect any change. In fact, you should use the current sell off in the global and Indian markets as an opportunity and consider adding to your stocks investments.
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
Investor wealth shrunk due to markets crashing on Wednesday.
Rupee's misunderstood fall is far from over despite some near-term respite.
Broader markets end flat too after a volatile trading session.
