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.