Stabilisation fund fails to stop ICICI Bank fall

DALAL STREET SPIKES

DSP Merrill Lynch's Rs 450 crore stabilisation fund failed to stop the free fall at the ICICIC Bank counter as the scrip ended 9.92 per cent lower on the BSE.

The stock witnessed volumes of 12.9 lakh shares in today's trading with the stabilising agent buying shares from the open market.

According to the information available, DSP Merrill Lynch Ltd, purchased 6,10,100 shares at an average price Rs.249.10 per share at the BSE and 17,41,513 shares at an average price of Rs.250.01 per share at the NSE.

The stock touched the day's low of Rs 218, before closing at 238.70, down 9.92 per cent from its previous close of Rs 265.