Today the domestic indices opened on a strong note. The National Stock Exchange (NSE) Nifty50 index which opened on a positive note at 10,808.70 from its previous closing level of 10,728.85 is now trading near the level of 10,850.90, 122.05 points higher. (03:09 PM IST)
On the other hand, the BSE-Sensex which opened at 35,997.29 is now trading 493.93 higher at, 36,210.88. (03:23 PM IST)
During its trading session, many stocks hit their fresh 52-week highs and lows on BSE. One of them is Yes Bank which lost 7.79% to Rs. 149.10 today on Bombay Stock Exchange (BSE) just after two rating agencies announced downgrade in the bank’s ratings.
This announcement was made after market hours yesterday, 28 November 2018.
ICRA which once originally named as Investment Information and Credit Rating Agency downgraded the bank’s domestic long term ratings of Senior Debt Instruments from AA+ to AA and Subordinate Debt Instruments to ICRA AA- from AA.
On the other hand, the CARE Ratings downgraded Yes Bank’s domestic ratings of Senior Debt Instruments to CARE AA+ from CARE AAA and Subordinate Debt Instruments to CARE AA from AA+.