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HDFC Bank, with a 52% FPI holding, and IndusInd Bank, with 42%, dropped 15% each since last Wednesday. Zee Entertainment, with a 28% FPI holding, tumbled 36% during this period. Jindal Stainless and Indiabulls Housing, both with a 23% FPI stake each, dropped 13% each.

The losses incurred on Tuesday represent almost one-fourth of the gains posted since December 3.

The promoter has raised ₹350 crore in debt from Modulus Alternatives to help with the buyout. The fund, borrowed at the promoter level, is being used to refinance the debt.

The company recorded its highest-ever quarterly retail disbursements at ₹14,531 crore, up 25% year-on-year led by a 31% growth in its retail book which increased to ₹74,759 crore from ₹57,000 crore a year earlier.

On Tuesday, the BSE Sensex dropped 1.49%, or 1,061.96 points, to 70,361.69. NSE Nifty declined 1.55%, or 334.95 points, to close at 21,236.85. Of the 50 top stocks, only 11 advanced.

The S&P 500 climbed to a record high close on Tuesday as investors digested a mixed bag of early quarterly results and awaited a slew of additional reports from Tesla and other companies later this week.

The U.S. dollar index - which tracks the currency against six rivals, including the euro and yen - was flat at 103.48 after rising to the highest since Dec. 13 at 103.82 in the previous session.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.