Axis Bank stock tumbles over 5%

New Delhi: Axis Bank’s stock tumbled over 5 per cent on Thursday after the company’s June quarter earnings failed to cheer investors. The stock ended at Rs 1,175.35, lower by 5.19 per cent after tumbling 6.75 per cent to Rs 1,156 during the day on the BSE. On the NSE, it slumped 5.08 per cent to settle at Rs 1,176.25. The stock emerged as the biggest laggard among the Sensex and Nifty firms.

The company’s market valuation diminished by Rs 19,816.9 crore to Rs 3,63,296.40 crore. After a sharp fall in intra-day trade, the 30-share BSE Sensex settled 109.08 points or 0.14 per cent lower at 80,039.80 and the NSE Nifty dipped 7.40 points or 0.03 per cent to 24,406.10.