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Indian shares fell sharply on Monday as prospects of aggressive rate hikes by the US Federal Reserve hit investors' appetite for risky assets.
Future Retail, Future Enterprises, Future Lifestyle, Future Consumer and Future Supply shares hit their respective lower circuits in intra-day trade.
Nifty 50 index was down 1.05 per cent or 180.50 points at 16,991.45, while the S&P BSE Sensex fell 1.07 per cent or 614.50 points to 56,582.65.
However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before NCLT.
Shares of Future Group firms on Monday faced heavy drubbing, tanking up to 20 per cent after Reliance Industries said its Rs 24,713-crore deal to acquire Future Group's assets could not be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal.