Shares of Unitech, Canara Bank, Bank of India and Wockhardt on Tuesday slumped as much as 8 per cent, after they were dropped from the MSCI (Morgan Stanley Capital International) India index.
Realty firm Unitech's scrip tanked 7.67 per cent to settle at Rs 15.65, while drug major Wockhardt lost 4.06 per cent to end the day at Rs 472.
Shares of Canara Bank plunged 5.52 per cent to Rs 232.85, while Bank of India stock dropped 4.84 per cent to close at Rs 206.65 on the BSE.
As per a statement dated November 7, 2013, by MSCI, Bank of India, Canara Bank, Wockhardt and Unitech would be dropped from the index.
All the changes would be effective as of the close of trade on November 26, the index provider had said then.
MSCI is a leading provider of global benchmark indices.