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Nifty Trades Higher, Yes Bank Plunges 20%

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Benchmark indices were trading with marginal gains with the Nifty and the Sensex up about 0.20 per cent, led by strong gains in heavyweight HDFC.

Shares in Zee Entertainment was among the top gainers from the Nifty rising almost 4 per cent, ahead of quarterly numbers to be declared on Friday. Yes Bank shares plunged as much as 20 per cent and was locked at the lower end of the circuit filter with only sellers in the counter.

Nifty Trades Higher, Yes Bank Plunges 20%
 

Engineering and construction behemoth L&T shares jumped more than 1 per cent after the company reported a 68.37 per cent year-on-year (YoY) fall in consolidated net profit at Rs 536.88 crore for the June quarter hurt by lower revenue.

Among the early losers from the Nifty were Axis Bank, which fell after a sharp surge of almost 7 per cent seen on Wednesday. Other losers in trade were Infosys and Tech Mahindra.

Meanwhile, most Asian markets were trading with marginal losses with the Hong Kong's Hang Sang, the Korean Kospi and the Japanese Nikkei all lower in trade.

Read more about: nifty yes bank
Story first published: Thursday, July 23, 2020, 9:36 [IST]
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