After the carnage, Sensex settled around the 36, 850 mark, down 277 points.
Representative image (Reuters)
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There were wild swings on the market as after the carnage, Sensex settled around the 36,850 mark, down 277 points from the opening bell. The Nifty has also fallen over 100 points. It has given up 11,200 mark as well.
The recovery was aided by managements of DHFL and Indiabulls Housing allaying investor fears.
Shares of Yes Bank, Sun Pharma and Indiabulls Housing are the top losers, while ITC, ONGC and Bharti Infratel have gained the most.
Automobiles, banks, FMCG, infra, metals and pharmaceuticals are all seeing a selloff, while the Nifty Midcap index is down over 4 percent.
Among stock specific action, YES Bank tanked 20 per cent after RBI trimmed Rana Kapoor’s tenure as its CEO. The private lender said the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31.
According to sources, the RBI has cited corporate governance and regulatory issues for not extending Kapoor’s term. Further, the lender has been directed to search for a successor.
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Source: News18