Jio Financial Services shares fall for 3rd straight day, to be removed from Nifty, Sensex on Aug 28

Jio Financial Services shares hit a lower circuit of 5% for the third straight day since listing, opening 5% lower at Rs 227.25 on BSE and Rs 224.65 on NSE. The stock has been falling continuously due to heavy institutional selling and offloading by passive funds. JFSL shares were scheduled to exit from Nifty and Sensex on August 23, but the decision was postponed to August 28. The stock will be removed from all the S&P BSE Indices effective prior to the open of trading on August 29.