mumbai shares of two delhi based real estate majorsjaiprakash associates and dlfwent on a free fall in thursdays weak market that saw the sensex close lower after nine consecutive sessions of gains in which the index touched new peaks the slide in the broader market however is a seen as a sign of consolidation which is healthy for longterm sustenance of the bull rally market players said shares of jaiprakash associates crashed 176 to rs 377 on news that the companys promoters were reducing their stakes the company told the exchanges that one of its promoters had cut stake in the company by nearly 15 percentage points to 283 the shares of dlf one of the leading real estate players in the country lost 86 to rs 167 after the punjab haryana high court cancelled one of its land deals through which the company was set to acquire about 350 acres the days session also witnessed selling by domestic institutions and local investors which brought the sensex down by 54 points to 27086 although fiis net pumped in nearly rs 1700 crore among the frontline stocks reliance industries closed 07 lower at rs 1024 the slide in the stock came despite disclosures that showed that fii holding in the company was at 20 a sevenyear high while retail holding had fallen below the doubledigit mark the day also witnessed a large chunk of idea cellular shares being sold by providence one of its oldest institutional shareholders the usbased buyout firm sold85 crore shares at rs 16635 per share