Equity indices plunge on weak global cues, Yes Bank crashes by 55%
Updated:5 years, 7 months ago
New Delhi, Mar 06 (ANI): Equity benchmark indices closed nearly 2.5 per cent lower on Friday after the Reserve Bank of India (RBI) placed Yes Bank under a moratorium and took over its board. The spreading coronavirus (Covid-19) was another reason that weakened market sentiment as the death toll increased to nearly 3,300 globally with infected cases of more than 96,000. Reports said investors lost over Rs 3.7 lakh crore in intraday trading amid Yes Bank crisis and virus-led fears. The BSE SandP Sensex closed 894 points or 2.32 per cent to 37,577 while the Nifty 50 cracked by 289 points or 2.57 per cent at 10,980. All sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank down by 5.25 per cent, private bank by 3.81 per cent, financial service by 2.89 per cent and metal by 4.35 per cent. Among stocks, Yes Bank crumbled by 54.89 per cent to Rs 16.60 per share after the RBI said it is superseding the board of troubled private sector lender with immediate effect.
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