Unitech, real estate developer in India witnessed a sharp fall in share price after the Bombay Stock Exchange and National Stock Exchange of India announced to drop the company from F&O segment from May 29.

''On Wednesday no contracts will be available for trading in the above mentioned security with effect from July 29, 2016,'' the exchanges said.

However, the existing contracts for May, June and July will continue to be available for trading till their respective expiry and new option strikes will also be introduced in the existing contract months.

Shares of Unitech settled at Rs 3.96, down Rs 0.15, or 3.65% at the Bombay Stock Exchange (BSE) on Thursday at 4:00 p.m.

The scrip has touched an intra-day high of Rs 4.12 and low of Rs 3.88. The total volume of shares traded at the BSE is 9,638,400.