INSUBCONTINENT EXCLUSIVE:
Yes Bank tumbled 9% after Moody's downgraded its long term foreign currency issuer rating.The S-P BSE Sensex and NSE Nifty 50 indices
The Sensex slumped as much as 515 points from the day's highest level and the Nifty 50 index hit an intraday low of 11,919.At 2:04 pm, the
Sensex traded 289 points or 0.7 per cent lower at 40,491 and the Nifty was down 0.8 per cent or 98 points at 11,921.All the 11 sector gauges
Bank, Nifty Private Bank, Nifty Financial Services and Nifty Realty indices were down between 1 per cent and 3.9 per cent at the time.Mid-
fell 0.9 per cent.Yes Bank was top loser in the Nifty 50 basket of shares
The stock tumbled 9 per cent to Rs 56.50 on the BSE after ratings agency Moody's downgraded its long term foreign currency issuer rating to
"BA2" and assigned negative outlook.Zee Entertainment, GAIL India, State Bank of India, Tata Motors, Eicher Motors, HDFC and IndusInd bank
were down between 2.7 per cent and 4 per cent.On the flipside, Bharti Infratel, Dr Reddy's Laboratories, Kotak Mahindra Bank, Asian Paints
and HCL Technologies were among the notable losers in the Nifty 50 basket of shares.Overall market breadth was extremely bearish, with 1,634
shares declining and 738 advancing on the BSE.
