Market Update Equities have further extended gains from the opening, with the Sensex rising over 200 points. The Nifty is well above 10,700.
The Sensex is up 210.63 points or 0.59% at 35723.77, and the Nifty up 46.50 points or 0.44% at 10732.10. The market breadth is narrow as 910 shares advanced, against a decline of 671 shares, while 86 shares were unchanged
YES BANK DROPS Yes Bank shares dropped as much as 5 percent in morning on Wednesday after Moody's Investors Service downgraded lender's foreign currency issuer ratings with changing outlook to negative. It was an addition to 2.5 percent correction in previous session.
Global brokerage house UBS has maintained its sell rating on the stock with a price target at Rs 150, implying 18 percent potential downside.
The research house believes non-performing loans (NPL) recognition has yet to take place and is not fully priced in. It also believes the risk-reward is still unfavourable.
Missed call
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