Following a rough trade on Thursday morning, the key Indian equity indices traded on a flat note. Around 10.20 a.m., Sensex was trading at 37,909.98, higher by 38.46 points or 0.10 per cent from the previous close of 37,871.52. Its opening was at 37,814.92, touching an intra-day high of 37,969.60 followed by a low of 37,738.59 points.
The Nifty50 on the National Stock Exchange was trading at 11,161.50, higher by 28.90 points or 0.26 per cent from its previous close.
Among the stocks, Shares of Yes Bank Ltd on Thursday slumped to their 20% lower circuit and traded at Rs 14.60 on BSE with heavy volumes. The stock has consistently been declining since the follow-on public offer pricing which was at a steep discount. This is even as the benchmark BSE Sensex was marginally up 43 points or 0.1% at 37,922.
An estimated 60 per cent discount to a share price of 9 June was observed, as the lender wrapped up its Rs15,000 crore follow-on public offer on 17 June at Rs12-13 a share last week. The lender counts State Bank of India as its largest shareholder, Since then, the scrip has fallen over 51 per cent.
CARE Ratings has downgraded the debt worth Rs 106.30 crore issued by Morgan Credits Pvt. Ltd from BB to D (default). Four schemes of Nippon India Mutual Fund have exposure to the debt of Morgan Credits.
Morgan Credits is owned by the family of Yes Bank Ltd co-founder Rana Kapoor, who is currently in judicial custody for alleged violation of the Prevention of Money Laundering Act (PMLA).

Read EquityPandit’s Nifty Outlook for the Week