Shares of\u00a0Gitanjali Gems\u00a0tumbled 20% and got locked in the lower circuit for the second consecutive day as the jewellery maker is\u00a0under watch by the Enforcement Directorate and CBI on\u00a0the alleged involvement in PNB's Rs 11,400 crore fraud.\u00a0\u201cFour big jewellers \u2014 Gitanjali, Ginni, Nakshatra and Nirav Modi \u2014 are under scanner. The CBI and Enforcement Directorate is looking at their arrangements with various banks and end use of money,\u201d PTI reported citing an unidentified bank official. Shares of Gitanjali Gems fell as much as 19.98% to\u00a0a\u00a052-week low of Rs 37.45 on NSE. One of the biggest banking fraud in India involving the second largest PSU bank Punjab National Bank\u2019s has gripped several jewellers and Gitanjali Gems is one of them. Shares of Gitanjali Gems also nosedived 20% on Thursday as CBI and ED took charge of\u00a0PNB\u2019s Rs 11,400 crore\u00a0scam. On the other hand, shares of\u00a0Punjab National Bank\u00a0extended the losses\u00a0Friday sliding about 3.8% to hit a fresh\u00a052-week low of Rs\u00a0123.5 on BSE. Shares of Gitanjali Gems got locked in the lower circuit within opening up of the market. In a quick succession,\u00a0more than 61 lakh shares exchanged hands on both NSE and BSE with around 53 lakh on NSE alone. The stock of Gitanjali Gems had fallen about 36% over the course of two days. Following a sharp plunge in the share prices of Gitanjali Gems, about Rs 250 crore (at day\u2019s low price of Rs\u00a037.55 on BSE) had been washed away from the market capitalisation of the company. Gitanjali Gems held a market cap of Rs 445.4 crore on BSE.\u00a0Earlier on Wednesday, the state-run lender Punjab National Bank detected a $1.77 billion (about Rs 11,400 crore) scam in a Mumbai branch where billionaire jeweller Nirav Modi was alleged in acquiring fraudulent letters of undertaking (LoUs) to secure overseas credit from other Indian lenders. According to a PTI report, a senior official of a Punjab National Bank said there is strict instruction from the finance ministry to all banks that no big fish should go scot-free and no honest borrower is harassed. Meanwhile today,\u00a0Indian stock markets opened higher with Sensex rising over 200 points and Nifty\u00a0breaching the 10,600-mark following the positive global cues after major US indices extended gains in yesterday\u2019s trades. The S&P\u00a0BSE Sensex\u00a0rose as much as\u00a0210.77 points to hit the day\u2019s high of 34,508.24 while NSE Nifty inched up\u00a067.4 points to mark the day\u2019s peak at 10,612.9.