ICICI shares drop 14 pct to 52-week low

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Mumbai, September 29:: Led by heavy-weight ICICI Bank, whose shares plummeted to a 52-week low of Rs 483, the banking index on Monday fell nearly eight per cent in the afternoon trade on the Bombay Stock Exchange.

Shares of the largest private sector lender ICICI Bank dipped Rs 78.25 or 13.94 per cent to touch the intra-day low of Rs 483 on the BSE. The scrip opened at Rs 565 and over 36.53 lakh shares got traded.

It was later trading at Rs 493, down 12.16 per cent in the late afternoon trade on the BSE.

Mirroring the fall in the banking stocks, the BSE bankex also dipped 7.71 per cent to touch the day's low of 6,063.59 points.

It was later quoting at 6,101.55 points, down 469 points in late afternoon trade.

Shares of State Bank of India also fell 5.31 per cent to touch an intra-day low of Rs 1,358. The scrip was later trading at Rs 1,362.10, down by Rs 72.10. Over 4.41 lakh shares changed hands on the BSE.

Further, HDFC Bank also fell 4.30 per cent and was quoting at Rs 1192.10, while public sector Canara Bank dropped 3.78 per cent to Rs 183.25.