IndusInd bank crashed by 25 %,Bank NIFTY by 8%.

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IndusInd rose over 4 per cent after Goldman Sachs (Singapore) picked up shares worth over Rs 176 crore in the company through an open market transaction.
IndusInd Bank, Goldman Sach

IndusInd bank is engulfed by bear and is making new lows .Today’s morning session IndusInd crashed by more than 25 % .It hit a new 52 weeks low at 374.80. Bank Nifty touched a new 52 weeks low of 20,267.95.

Currently, prices have recovered somewhat and are trading at 448.80; 155 points down (- 25.71). Counter saw a 1 month high of 1203.85 on 20 Feb .But since then it is in free fall and has eroded more than 50 % of market capitalisation. Today’s market cap of IndusInd bank is around 31,12,568.47 lakh rupees.

Bank nifty is trading down by 8 % at 20,368.35 with 1,786.80 points loss. Only Yes bank counter is trading in green at present.Kotak Bank,ICICI Bank, RBL Bank and Federal bank are also trading near new 52 weeks low.

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