Stock Market Live: Sensex gains 100 points, Nifty above 11,150; Tech Mahindra

Gold hits record, gets more precious as the dollar loses value

Gold hurtled to record peaks on Tuesday before the sheer scale of its gains drew a burst of profit taking, which lifted the dollar from two-year lows and curbed early equity gains. The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce, only for a wave of selling to slap it back to $1,947 in wild trade. Gold is still up over $130 in little more than a week as investors wager the Federal Reserve will reaffirm its super-easy policies at a policy meeting this week, and perhaps signal a tolerance for higher inflation in the long run. More here

Buzzing | Yes Bank shares fall 10% to trade below its FPO price of Rs 12

Shares of Yes Bank fell 10 percent in early morning deals on Tuesday to Rs 11.10 per share, below its FPO price of Rs 12. The stock price of the lender has fallen almost 20 percent in the last 2 days. On Monday, the stock was locked in a 10 percent lower circuit after the company’s shares allotted in the follow-on public offer (FPO) got listed on the bourses. The stock of the private sector bank has consistently been falling since the pricing announcement of the FPO on July 10, down 58 percent since then. State Bank of India (SBI) on Monday also said that its holding in Yes Bank has come down to 30 percent after the FPO. Prior to the FPO, SBI holding in Yes Bank stood at 48.21 percent, the country’s largest lender said in a regulatory filing. Read more here.