Markets post third straight weekly gain; YES Bank stock declines 7%

Analysts say the latest surge in the markets has been triggered by a slide in the price of crud

The benchmark indices posted their third straight weekly gains, after investor sentiment improved following a sharp drop in crude oil prices. 

Stability in the rupee saw foreign institutional investors (FIIs) turn net buyers on all five trading sessions of the week.

The Sensex gained 0.6 per cent or 197 points to 35,457, while the Nifty rose 0.6 per cent or 65.5 points to 10,682, led by gains in index heavyweight Reliance Industries (RIL) and HDFC. 

Meanwhile, YES Bank dropped 7 per cent after analysts raised concerns on the stock, following the resignation of O P Bhatt from the search panel to find a