ICICI shares down 25 pct on day

Reuters
Posted: 2008-10-10 12:56:31+05:30 IST
Updated: Oct 10, 2008 at 1256 hrs IST

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ICICI Bank surges 10 pct in morning trade ICICI surges 19 pct after CEO's assurance ICICI surges 19 pct after CEO's assurance ICICI shares down 25 pct on day

Mumbai, October 10:: ICICI Bank, India's biggest private bank, fell as much as 25 per cent on Friday as investors concerned by its potential exposure to the global financial crisis dumped its shares.

The shares touched a low of 340.10 rupees, their lowest in more than three years, taking 2008 losses to 72 per cent.

By 12:36 p.m., the shares were trading 24.5 per cent lower at 342.30 rupees.

"There is pure selling pressure. Sentiment is weak. Even if you discount the risks in its overseas operations, the stock fall is high," Vaibhav Agarwal, an analyst at Angel Broking.

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