Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Ace stock market investor Rakesh Jhunjhunwala on Muday purchased Yes Bank shares worth Rs. 87 crore.
He bought a total of 1.29 crore shares in the private sector bank at an average price of Rs. 67.10, as per the bulk deal data from the BSE.
The investment in Yes Bank comes after it confirmed that it had received an offer worth $1.2 billion from potential global investors.
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On Friday, the lender reported a net loss of Rs. 600 crore for the quarter ended September 30, as against a net profit of Rs. 965 crore in the corresponding period in 2018.
On the other hand, the quality of its asset worsened, with gross NPA as a percentage of total advances reaching up at 7.39 per cent in the July-September period, from 5.01 per cent in the previous quarter.
Yes Bank’s net non-performing assets (NPAs) – or bad loans – increased to 4.35 per cent in the Q2FY20, from 2.91 per cent in the quarter ended June 30.
At 1453 hours, Yes Bank shares on BSE traded 2.50 point or 3.63 per cent higher at Rs. 68.60. On the NSE it was at Rs 68.65 apiece with 2.55 points or 3.85 per cent up.
(With inputs from agencies)
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