Global ratings agency Moody's downgraded Yes Bank's ratings of the private sector with a negative outlook. Due to this news, the share of Yes Bank fell by more than 5 percent. In early trade, Yes Bank shares fell to below Rs 59. Apart from Yes Bank, shares of SBI, ONGC, Mahindra, IndusInd Bank and Tata Motors also declined during the business.

Meanwhile, the Sensex and Nifty moves in early trading flat. In the initial minutes, the Sensex was trading with a slight lead but after some time it came to the red mark. At 10.50 am the Sensex was at the level of 40780. Similarly, the Nifty fell to the level of 12015.

What did Moody's say about Yes Bank?

Rating agency Moody's downgraded the ratings due to concerns over the deterioration in the quality of Yes Bank loans and the fall in the capital buffer. The rating agency has raised questions about timing, pricing and regulatory approval in the claim of showing interest of investing $ 2 billion in the bank. Let us know that recently, Yes Bank had asked to raise $ 2 billion fund. It is possible to discuss this plan of the bank in a board meeting to be held on 10 December.

HDFC Bank stock fluctuations

The Reserve Bank is investigating the irregularities in the online banking services of private sector HDFC Bank for two consecutive days this week. Amidst this news, HDFC Bank shares are witnessing ups and downs. Explain that the RBI has formed a team to investigate. According to Reserve Bank Deputy Governor MK Jain, "Our team has gone to identify the reasons and find out what instructions we can give to HDFC Bank."