Markets Pare Day's Gains To End Flat; Yes Bank Spurts 26%

The indices in the afternoon session surged more than 400 points on the Sensex but later ended the trading session off day's high to close just flat. Sensex closed higher by just 61 points or 0.16% at 38470.61, while Nifty topped levels of 11258.95.

Markets Pare Day's Gains To End Flat; Yes Bank Spurts 26%

On the Nifty, major gainers include Yes Bank, HCL Tech, Kotak Mahindra while losers include Zee Entertainment, Bharti Infratel, Hindalco, Vedanta among others.

Yes Bank later in trade clarified that there is no communication from SBI, RBI, government or any regulatory authority on the likely stake buy by SBI.

Also SBI on the other hand said the lender will abide by timelines in disclosing developments, if any. After losing, the stock of SBI gained in trade by more than 1% while Yes Bank zooms 21.5%.

ED file anti-money laundering case against Naresh Goyal. Stock of Jet Airways was however trading higher.

Telecom stocks including Vodafone Idea and Airtel declined in trade today after receiving fresh notices for clearing their respective dues.

Most Asian markets including China's Shanghai, Hang Seng of Hong Kong and Australia's stock exchange gained 1-2%. European stocks at the time of writing this story were largely in a negartive territory.

Meanwhile, rupee traded higher by 6 paise at 73.31 per dollar.

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