Nifty Bank crashes by 5,000 points. PNB, SBI, HDFC Bank fall up to 20%
[hfe_template id='11223']
[ad_1]
Nifty Bank saw a near-5,000 points or 10% intraday fall on Tuesday as investors made mincemeat of the markets after poll trends showed a spirited fight by the INDIA alliance around half past noon against the exit polls which had given a thumping win to the Bharatiya Janata Party (BJP) led NDA alliance. These are trends and the final outcome could be different when the last vote is counted. Nifty Bank fell to the day's low of 46,077.85 with all 12 stocks in the index trading in the red. Index heavyweights HDFC Bank and ICICI Bank were among the top three laggards and behind Reliance Industries (RIL) to have triggered the downfall. The banking gauge ended at 46,928.60, down by 8%. State-run State Bank of India (SBI) also contributed to the downfall in good stead. SBI fell by a mammoth 19% to hit an intraday bottom of Rs 732. The counter which crossed the market capitalisation of Rs 8 lakh crore while hitting all time high saw its market...