The market witnessed a choppy trading session where the benchmark BSE Sensex touched 300 points intraday low, but recovered to end the closing level by only 15 points at 39,741.36. The Nifty closed flat up by just near 8 points at 11,914-level.
Shares of YES Bank closed 13.47% down at Rs.116.60, extending falls into the second consecutive session, after foreign brokerage UBS reduced its target price on the stock to Rs90 from Rs170 earlier.
IndusInd Bank share declined 4.62% to close at Rs.1497.35 after the same UBS downgraded the stock to SELL from NEUTRAL, reducing price target to Rs.1400 from Rs.1700.
Sensex pared most losses to lower by 15pts, supported by HDFC, HDFC Bank, Kotak Bank, AxisBank and ICICI Bank etc.