Shares of YES Bank dipped 5.5 per cent to Rs 58.70 on the BSE on Friday after Moody's downgraded the bank's long-term foreign currency issuer rating to 'B2' from 'Ba3', as potentially stressed assets and low loss-absorbing buffers may add pressure to its funding and liquidity. The global rating agency assigned negative outlook on the bank's rating.

The private sector lender's stock was trading at its lowest level since October 31, 2019.

YES Bank shares climbed 6 per cent to Rs 74 on the BSE on Friday ahead of the board meet today to consider fundraising plan.

The stock of the private sector lender rallied 17 per cent after the Bank, on Tuesday, said its board will meet on Friday, November 29, 2019, to discuss and consider fundraising by issue of equity/equity linked securities through permissible modes.

The lender reported a profit of Rs 113.8 crore in the June quarter of FY20 (Q1FY20), and that of Rs 964.7 crore in Q2FY19. The net interest income (NII) came in at Rs 2,280.9 in the June quarter of the current fiscal, which was Rs 2,417.6 in Q2FY19.

Both the lenders have seen a massive erosion in their market value, but Yes Bank’s pain has been deeper.

The swift jump came after the lender clarified that Tuesday's fall was precipitated by a share sale triggered by invocation of pledge of shares of co-promoter Rana Kapoor.

"The financial and operating metrics remain intrinsically sound and stable, with liquidity position well in excess of regulatory requirements... With the invocation of shares, the entire pledge stands extinguished and all sale under the same duly completed," the bank said in a statement.

The Nifty PSU Bank index tumbled 8 per cent in intra-day deals to 2,118, its lowest level since May 2016. Nifty Realty, too, slipped 6 per cent to 241, while Nifty Private Bank and Nifty Auto indexes down 3 per cent and 2 per cent, respectively. In comparison, the benchmark Nifty 50 index down 1.75 per cent at 11,273 points.