New Delhi, March 11 -- Shares of Axis Bank, the country's fourth-largest private sector lender, saw renewed selling pressure in Wednesday's trade, March 11, falling 4.7% to the day's low of Rs.1,252.80 apiece. Today's fall is also the biggest intraday decline since mid-December, when the stock had crashed 5%.

The fall has not only pushed the stock to a 7-week low but has also brought the company's market capitalisation below Rs.4 lakh crore. The 4.7% drop in the stock has wiped out Rs.19,016 crore of the bank's market value, bringing it down to Rs.3,89,270 crore.

Taking the previous close of Rs.1,314 per share into account, the market capitalisation stood at Rs.4,08,286 crore. At its peak, the market capitalisation of the private sector...