Domestic equity benchmark BSE Sensex dropped over 100 points in early trade Thursday led by heavy selloff in Yes Bank shares, amid weak cues from global markets and unabated foreign fund outflow.
The 30-share index was trading 112.21 points or 0.29 per cent lower at 39,103.43 at 0930 hours, and the broader Nifty fell 32.05 points or 0.27 per cent to 11,655.45.
Yes Bank was the biggest loser in the Sensex pack, cracking over 10 per cent, after the company reported a massive slump of 92.44 per cent in its consolidated net profit to Rs 95.56 crore due to a Rs 6,232 crore addition to non-performing assets, which resulted the provisions to zoom.
Other losers included ONGC, Tata Motors, Vedanta, HCL Tech, M&M, HUL, Tech Mahindra, Tata Steel and TCS, shedding up to 2.27 per cent.
On the other hand, Bharti Airtel, HDFC duo, ITC, Kotak Bank and Hero MotoCorp were the gainers, rising up to 1.30 per cent.
Rupee rises marginally
Meanwhile, the Indian rupee appreciated 4 paise (intra-day) to 68.77 against the US dollar. Forex traders said the local unit rose tracking gains in other Asian peers. Moreover, selling of the American currency by exporters also supported the domestic unit.
On Wednesday, the rupee had settled at 68.82 against the US dollar.
Brent crude, the global benchmark, was trading at 63.84 per barrel higher by 0.29 per cent.