Equities tumble as panic selling continues, Yes Bank surges by 48 pc
By : Deccan Herald
Published On: 2020-03-16
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01:28
Equity indices nosedived by nearly 4.5 per cent during early hours on Monday amid the rapidly escalating global coronavirus pandemic even though the US Federal Reserve cut interest rates to near-zero a day earlier to help shore up the world's largest economy. At 10 am, the BSE S&P Sensex was down by 1,575 points or 4.62 per cent to 32,529 while the Nifty 50 cracked by 449 points or 4.51 per cent to 9,506. All sectoral indices at the National Stock Exchange were in the red with Nifty private bank and financial service down by 7 per cent each, realty by 6.7 per cent, metal by 5.9 per cent, and IT by 4.9 per cent. Among stocks, IndusInd Bank was the top loser after dropping by over 11 per cent at Rs 714 per share. However, Yes Bank surged by 48.14 per cent to Rs 37.85 per share.
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