Bank stocks crack; IndusInd, ICICI Bank plunge 11%, Nifty Bank dips over 8%

Banks stocks including that of State Bank of India (SBI), ICICI Bank, IndusInd Bank and HDFC Bank plunged over 11 per cent on the National Stock Exchange (NSE) on Monday as sentiment remained weak across the board post the Reserve Bank of India's (RBI) directive to close Mumbai-based CKP Cooperative Bank.

The Nifty Bank index declined 8.5 per cent on the NSE in the intra-day trade today, and was among the top losers on the exchange. In comparison, the Nifty50 was at 9,269.50 levels, down 590.40 points or 5.99 per cent at 2:50 pm. 

Individually, IndusInd Bank and ICICI