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The
S&P BSE Sensex partially recovered after crashing 1,496 points in
from the day's high to settle 280 points lower at 36,842 on Friday. The index
had hit an intra-day high of 37,489.24 before crashing to the day's low of
35,993.64.The Nifty 50 index, on the other hand, hit a low of 10,866 levels,
but settled 91 points lower at 11,143.The decline came on the back of a sharp fall in NBFC
stocks. DHFL skidded over 50% in intraday trade on fears of a liquidity
crisis. The management, however, assuaged investor concerns and said the
company has not defaulted on any repayments.
The stock settled 42 per cent
lower at Rs 352 on the BSE. According to the analysts, the IL&FS
crisis was the main reason behind the selloff. That apart, a rise in bond
yields also weighed on the sentiment. YES Bank fell 34 per cent in
intra-day trade after the Reserve Bank of India (RBI) trimmed Rana Kapoor's
tenure as its MD & CEO. It, however, recovered partially to close 30 per
cent lower at Rs 225 levels. The private sector lender said on Wednesday that
the 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. TOP GAINERS:IOC,HINDALCO,HINDPETRO
MAJORLOOSERS: UPL,YESBANK,KOTAKBANK
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