YES Bank slumps 5% as investors worry over MF holdings.

YES Bank share slumped 5 per cent in early trade on Monday as investors remained worried over the fate of mutual fund holdings of the debt issued by two promoter companies of the bank after the its stock price halved from its peak in August. 

The non-convertible debenture holding by two big mutual funds — Reliance Mutual Fund and Franklin Templeton — is in focus since some investors fear that ratings assigned to these instruments could be shaky after the steep fall in stock price in the past few months. 

The scrip was trading 4.91 per cent down at Rs 185.95 at around 09.57 am, while the benchmark BSE Sensex was up 0.08 per cent at 35,009.65. 

The shares of YES Bank opened at Rs 189 on BSE against its previous closing of Rs 195.55.