Sensex, Nifty end lower; Yes Bank plunges 30%

BSE Sensex closed with 35.78 points loss at 39,031.55; NSE Nifty ended 6.50 points lower at 11,748.15

April 30, 2019 04:37 pm | Updated 09:04 pm IST - Mumbai

A view of the Bombay Stock Exchange building in Mumbai.

A view of the Bombay Stock Exchange building in Mumbai.

Benchmark indices Sensex and Nifty on Tuesday ended marginally lower after a volatile session, dragged by private sector lender Yes bank which posted a loss of ₹1,506 crore in the March quarter on higher bad loans provisioning.

The BSE Sensex closed with 0.09% or 35.78 points loss at 39,031.55, while the NSE Nifty ended 0.06% or 6.50 points lower at 11,748.15.

Yes Bank shares crashed nearly 30% after the company reported a loss of ₹1,506.64 crore for the fourth quarter ended March 2019, hit by higher provisioning for bad loans.

 

Other major Sensex laggards were IndusInd Bank, HeroMoto Corp., Maruti Suzuki, PowerGrid and Mahindra and Mahindra — plunging as much as 5.21%.

Banking and auto shares mainly led the fall in the Sensex.

Shares of housing finance companies also came under heavy selling pressure with Indiabulls Housing Finance and PNB Housing finance diving as much as 6%.

Asian markets were mostly lower on April 30, tracking weak Chinese manufacturing activity.

Investors also remained cautious ahead of the U.S. Central bank’s Federal Open Market Committee’s (FOMC) policy decision on May 1.

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