Stock market today, April 2 -- Shares of Central Bank of India, a state-owned bank, ended in the red for the third consecutive session on Wednesday, April 2, falling another 11% to slip below Rs.37 and hit an 18-month low of Rs.36.86 per share, taking the three-day cumulative fall to 16%.

The last time the stock was at this level was in September 2023. After ending the last eight months in the red, losing 33% of its value, the stock extended its losing streak into the current month, declining another 14% so far. At current levels, the stock is trading 52% lower than its February 2024 peak of Rs.77.

The stock has been on a downward spiral since last week when it issued shares to qualified institutional buyers (QIBs) via the QIP route, al...