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Sensex Down 170 Points, Yes Bank Sheds 5%


22 August 2019

OMMCOM NEWS


Mumbai: In the absence of any positive development and concerns over the damaging slowdown in the domestic economy, the markets continued to trade lower on Thursday.

Yes Bank fell over 5 per cent during the early trade as investors were worried about the corporate governance issues reported in CG Power. The private lender has significant stake in CG Power.

At 10.32 a.m., the Sensex was trading 169.34 points lower at 36,891.03 while the broader Nifty was down 62.20 points to 10,856.50.

Foreign Institutional Investors (FIIs) on Wednesday sold scrips worth Rs 770.81 crore while the Domestic Institutional Investors (DIIs) offloaded stocks worth Rs 353.97 crore.

Analysts said that an extended slowdown in the domestic economy has increased the volume of stressed assets in segments like industrial, infrastructure and financials.

(IANS)