Equity gauges on a weak note, Yes Bank drops over 11 pc
Equity benchmark indices were lower during early hours on Thursday tracking weak global cues and continued selling by foreign investors.
- Country:
- India
Equity benchmark indices were lower during early hours on Thursday tracking weak global cues and continued selling by foreign investors. At 10:15 am, the BSE S&P Sensex was down 54 points at 39,162 while the Nifty 50 slipped 20 points to 11,667. At the National Stock Exchange, all sectoral indices were in the red except for Nifty financial services.
Among stocks, Yes Bank dipped 10.72 per cent lower at Rs 87.85 per share after reporting 91 per cent drop in its net profit and bad loans worth Rs 6,230 crore during the first quarter of current fiscal. The other losers were mining major Vedanta, ONGC, Tata Motors and HCL Tech.
However, Wipro gained 2.85 per cent to Rs 267 per share. UPL, HDFC, Indiabulls Housing Finance and Bharti Airtel saw marginal gains. Meanwhile, Asian shares edged lower as Wall Street stocks dropped on signs that the US-China trade war could hurt corporate earnings. Earlier in the week, US President Donald Trump kept up pressure on Beijing with a threat to put tariffs on another 325 billion dollars of Chinese goods.
The benchmark Nikkei shed 1.7 per cent and Chinese shares followed the suit with Shanghai Composite and blue-chip CSI 300 down 0.7 per cent and 0.6 per cent respectively. Hong Kong's Hang Seng retreated 0.5 per cent and South Korea's market was off 0.4 per cent after the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years.
(ANI)
Also Read: Yes Bank Q1 net profit slumps over 92 pc to Rs 96 cr
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Microsoft and NetEase to re-launch Warcraft game in China, ending feud
US considers easing warnings for Americans traveling to China
Canadian espionage agency claims China interfered with last two elections won by Trudeau
GLOBAL MARKETS-Asian stocks subdued on yen caution, US inflation in focus
Philippines president says trilateral summit with U.S., Japan to include South China Sea cooperation