Market Update:Yes Bank falls 5%:Sensex,Nifty Swing In Open;L&T Extends Gain

Yes Bank shares down 5%- It was the biggest loser among the Sensex stocks. Ashok Chawla, Yes Bank’s non-executive chairman, has stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval.

Rupee weakens against US dollar- The rupee was trading at 71.35 a dollar, down 0.18% from its previous close of 71.23. The currency opened at 71.30 a dollar, touching a high 71.30 and a low 71.40.

Market Opens: It is a flat start for the benchmark indices on Monday with Nifty holding above 10,700 marks. The Sensex is up 38.58 points at 35847.53, while Nifty is up 6.60 points at 10731. About 460 shares have advanced, 395 shares declined, and 52 shares are unchanged.

Stock To Watch - L&T, Rel Infra, Reliance Capital, Biocon, Tata Steel, Infosys, Vedanta, Dr Reddy's Lab, Tech Mahindra, Wipro, ONGC, are among major gainers, while losers are Yes Bank, Tata Motors, HUL, M&M, UPL and Grasim.

L&T Extends Gain - Shares of the construction company extended gains for the third day and rose as much as 1.3 per cent to Rs 1,259.55. The company’s unit—L&T Construction bagged order for design and construction of a major airport, according to its statement on the exchanges. The order is valued at over Rs 7,000 crore, according to the company’s deal classification.

Oil hits 3-month high: Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and US sanctions on Iran and Venezuela.

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Share Market | Bank Nifty | Yes Bank Shares | Rupee Update | Oil Prices

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