Equities slip into negative zone, Yes Bank down by 4.4 pc

Equity indices were volatile during early hours on Tuesday with most sectoral indices in the red.

At 10:15 am, the BSE S & P Sensex was down by 144 points at 37,259 while the Nifty 50 edged lower by 58 points to 10,995.

At the National Stock Exchange, most sectoral indices were in the negative territory with Nifty PSU banks down by 1.2 per cent and private banks by 0.5 per cent. However, Nifty IT was up by 1.4 per cent.

Among stocks, Yes Bank was lower by 4.4 per cent to trade at Rs 73.30 per share. A day earlier, it had closed 3.3 per cent down to Rs 76.80 per share.

 

Indiabulls Housing Finance too slipped over 3 per cent lower while Britannia lost by 1.6 per cent. UltraTech Cement and Coal India lost by 1.5 per cent each.

However, IT stocks showed some gains with Infosys up by 2 per cent, Tata Consultancy Services by 1.5 per cent and Tech Mahindra by 1.2 per cent.

Pharma major Dr Reddy's was up by 1.4 per cent while Hero MotoCorp too was in the positive territory despite a countrywide slowdown in the auto sector.

Meanwhile, Asian shares were mixed with investors hoping for more stimulus in major economies to avert a global recession.

The Shanghai Composite slipped 0.1 per cent and Hong Kong's Hang Seng Index dropped 0.3 per cent. But Japan's Nikkei traded 0.4 per cent higher and South Korea's KOSPI also gained 0.4 per cent.