ICICI shares down 25 pct on day

Reuters
Posted: Friday, Oct 10, 2008 at 1256 hrs IST
Updated: Friday, Oct 10, 2008 at 1256 hrs IST

Font Size

Feedback

Discuss

ICICI Bank surges 10 pct in morning trade ICICI surges 19 pct after CEO's assurance

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.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.