The stock market continues to be in a great ruin, this private bank’s share fell by 18 percent – know the reason

Share Market Update: The trend of decline in the Indian stock market continues. The stock market, which opened in the green on Friday, the last day of the week, is once again facing a big decline. In today’s decline, the shares of more than half of the companies in the major exchanges are seeing a decline. Meanwhile, a huge decline is being seen in the shares of private sector IndusInd Bank.

Bank shares fell sharply on Friday.

At 10.45 am today, the shares of this private bank were trading at Rs 1048.50 on the BSE, down a massive 18.02% (Rs 230.40). The bank’s shares, which closed at Rs 1278.90 on Thursday, opened today with a huge drop at Rs 1199.95. After the start of trading, the bank’s shares fell further, and at one point it reached Rs 1034.75, which not only remained its intraday low today but also became its new 52-week low. The 52-week high of IndusInd Bank shares is Rs 1694.35.

IndusInd Bank’s net profit falls drastically.

IndusInd Bank on Thursday released its second quarter results for FY 2024-25. The bank’s performance in the second quarter of the current financial year was very poor and its net profit declined by more than 39 percent. The bank said in an exchange filing on October 24 that its net profit in the second quarter of FY 2024-25 fell 39.2 percent year-on-year to Rs 1325 crore. 

Investors started selling shares as soon as the market opened

Due to this poor performance of the bank, investors started selling IndusInd Bank shares as soon as the market opened today. Due to this the bank’s share prices are seeing a huge decline. Let us tell you that the shares of this private bank have been declining for a long time, due to which investors are suffering huge losses.