Yash Bank's stock continues to decline||AllBestNews||

Yash Bank's stock continues to decline

The Indian stock market started sluggish on Friday. The biggest drop in early trading was recorded in Yes Bank's share.

In the initial minutes of the last trading day of the week, the Indian stock market started with a rise but there was a fall in some time. On Friday, the Sensex plummeted 170 points to 39, 580, while the Nifty dropped 60 points and traded at 11,555.

During the turn of the business, banking sector was the worst hit. Let's say that the Sensex closed at 39,741, down 15.45 points, which is 0.04 per cent on Thursday. However, the Nifty closed 7.85 points, which was 0.07 percent higher than the previous session, closing at 11,914.

Yas Bank continues to fall

In the initial business, Yes Bank's shares broke nearly 3 per cent. In fact, overseas brokerage house UBS has downgraded YES Bank's stock ratings. Brokerage recommends selling in the bank's stock, and its target is Rs 90, which was Rs 170 earlier. That is 47% reduction in the target. Earlier on Thursday also the effect of UBS report on the stock market. Let's say that YES Bank closed at the Sensex with a fall of 12.96 percent.

Stock of other shares

IndusInd Bank's share in Friday's turnover was more than 1.70 per cent. IndusInd Bank was broken up by 4.96 percent on Thursday. Shares in the red mark include Bajaj Auto and Kotak Bank, SunPharma, Hero MotoCorp, ICICI Bank and Mahindra and Mahindra.

Meanwhile, on Friday, the rupee is unlikely to change any more than the US dollar. In the initial trading, the rupee is open at a rate of 69.51 dollars per US dollar. Let's say rupee was closed at a rate of 69.51 per dollar on Thursday.