Sensex down 200 points; ICICI Bank & Adani Group stocks most affected
ICICI Bank stock has slipped more than 12.75 per cent since February 26.
Indian bourses have been badly affected due to uncertainty in the current market. On Tuesday, the BSE Sensex nosedived nearly 430 points to close at a nearly three-month low of 33,317 after bank stocks came under heavy selling pressure. As per reports, due to fag-end selling in the domestic equity market, almost 2 lakh crore were wiped off in investor wealth on Tuesday. The BSE Sensex is currently trading at 33,107.24, down 209.96 points. Nifty stands at 10,175, down 74 points.
ICICI Bank stock has slumped for the sixth consecutive day. On Tuesday, ICICI Bank's Chanda Kochhar and Axis Bank's Shikha Sharma appeared before the Serious Fraud Investigation Office (SFIO) with regard to a probe into the PNB swindle. The stock has slipped more than 12.75 per cent since February 26. The stock is currently at Rs 288.45, down 2.24 per cent.
Adani Group stocks also saw a big fall, almost 7 percent after BJP MP Subramanian Swamy called Gautam Adani the "biggest NPA trapeze artiste in PSUs. It is time he is made accountable or a Public Interest Litigation (PIL) is inevitable."
PNB informed the stock exchanges last week that the quantum of fraud in the case could exceed the Rs 11,400 crore figure it had disclosed on February 14 by more than Rs 1,300 crore, taking it to Rs 12,700 crore.
(The above story first appeared on LatestLY on Mar 07, 2018 12:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).