Market Update - YES Bank surges 25%,Sensex down, Nifty around 10,750

Yes, Bank Jumps 30% - As RBI Says No Divergence In Asset Quality Shares of the Mumbai-based bank jumped as much as 29.98 per cent, the most since July 2005, to Rs 220.25. The stock was the best performer on Sensex and Nifty.

The private lender received Reserve Bank of India’s compliance assessment report for 2017-18, according to its stock exchange notification. The report stated that there is no divergence in asset classification and provisioning as per the country’s central bank norms. Trading volume was almost six times its 20-day average. The stock had declined 49 per cent in the past 12 months compared to a 5.1 per cent advance in the Sensex.

Market Opens: Benchmark indices are trading lower on a Thursday morning with Nifty hovering around 10,750 level. At 09:18 hrs IST, the Sensex is down 52.52 points at 35981.59, while Nifty is down 26.20 points at 10767.50. About 304 shares have advanced, 495 shares declined, and 30 shares are unchanged.

Stocks to watch - Karur Vysya Bank, IOC, BPCL, HPCL, Reliance Capital, Repco Home Finance, DHFL, RIL, Kotak Mahindra Bank are among major losers, while Yes Bank is up 27 per cent, while Tata Motors, L&T are other major gainers.

Rupee Opens: The Indian rupee opened lower at 70.87 per dollar on Thursday versus previous close 70.80.

Shares of DHFL fell as much as 6.5 per cent to Rs 103.95. Public sector lender Bank of Baroda has initiated a forensic audit of loans to Dewan Housing Finance Corporation Ltd., after a news website, Cobrapost alleged that the company has re-routed loan funds back to promoter group entities.

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Share Market | Sensex Update | Nifty | Yes Bank Shares | Rupee Opens

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