Sensex closes 173 points higher but Yes Bank plunges by 13.8 pc

ANI
11 Dec 2019, 16:33 GMT+10

Mumbai (Maharashtra) [India], Dec 11 (ANI): The last hour of trading on bourses capped a volatile session on Wednesday with equity benchmark indices closing in the green.

The BSE SP Sensex closed 173 points higher at 40,413 while the Nifty 50 ticked up by 53 points at 11,910.

Most sectoral indices at the National Stock Exchange were in the positive terrain except for Nifty metal and PSU bank which dropped marginally. Nifty IT closed 1.23 per cent higher.

Among stocks, GAIL gained by 5.3 per cent to close at Rs 116.95 per share. Zee Entertainment was up by 4.8 per cent, NTPC by 2.8 per cent, IndianOil Corporation by 2.7 per cent and ONGC by 2.2 per cent.

The other prominent gainers were Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Tata Motors and Kotak Mahindra Bank.

However, Yes Bank share price fell by 13.85 per cent after its board of directors said it may consider 500 million dollar investment offer from the Citax Group. It said the binding offer of 1.2 billion dollars by Erwin Singh Braich and SPGP Holdings continues to be under discussion.

The other which lost were Hero MotoCorp, Vedanta, Hindalco and Bharti Airtel.

Meanwhile, Asian stocks drifted as US-China trade talks showed little progress ahead of a weekend deadline for the imposition of additional US tariffs.

Japan's Nikkei traded 0.17 per cent lower but Shanghai Composite added 0.24 per cent. Hong Kong's Hang Seng was up by 0.44 per cent while South Korea's Kospi edged higher by 0.45 per cent.

Investors' focus was locked on the upcoming US Federal Reserve's policy meeting and its outlook for the economy as well as Britain's election.

(ANI)

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