India Stock Market Rocked by Sudden Plunge in Financial Shares
- Sensex posts biggest intraday swing in more than four years
- Yes Bank, Dewan shares suffer steepest declines on record
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Volatility erupted in India’s stock market on Friday, with plunges in Yes Bank Ltd. and Dewan Housing Finance Corp. setting off an exodus from financial shares.
Yes Bank sank to the lowest level since 2016 after India’s banking regulator refused to extend the tenure of the lender’s chief executive officer, while Dewan tumbled 43 percent for its steepest loss on record.