Share markets in India have erased some of the early morning gains but are still trading on a positive note, tracking global cues.

The BSE Sensex is trading up by 211 points, at 36,800 levels.

Meanwhile, the NSE Nifty is trading up by 68 points.

The BSE Mid Cap index is trading up by 0.2%. The BSE Small Cap index is trading up by 0.3%.

On the sectoral front, gains are largely seen in the energy sector and IT sector.

Finance stocks, on the other hand, are witnessing selling pressure.

The rupee is trading at 75.15 against the US$.

Gold Prices are trading up by 0.4% at Rs 49,068.

Moving on, Reliance Industries is among the top buzzing stocks today. Shares of the company rose over 3% today and hit a lifetime high of Rs 1,947 on the BSE, after it announced the sale of 0.15% stake in Jio Platforms to Qualcomm Ventures for Rs 7.3 billion.

Shares of the company hit an all-time high of Rs 1,947, pushing its market capitalization over Rs 12.09 trillion, a record for an Indian company.

On Sunday, Qualcomm Ventures, the investment arm of Qualcomm Inc., said it will invest Rs 7.3 billion in Jio Platforms, becoming the 12th entity to invest in the digital services subsidiary of Reliance Industries in over three months.

In news from the chemical sector, shares of Clariant Chemicals zoomed 18% today after the company announced a special interim dividend of Rs 140 per share (1400%) for the current financial year 2020-21 (FY21).

The company has fixed July 18, 2020, as the record date for the purpose of payment of special interim dividend. The dividend shall be paid on or after July 19, 2020.

The stock of the specialty chemical was trading at its fresh 52-week high level. In the past three months, it has rallied 106%.

For the previous financial year 2019-20, the company had reported a more-than-double net profit at Rs 710 million, compared to Rs 300 million in the corresponding previous year (FY19).

Clariant Chemicals share price is presently trading up by 14%.

Moving on to news from the banking sector, shares of Yes Bank declined 17% in the intra-day trade today, on the back of heavy volumes after the bank on Friday fixed floor price for its proposed follow-on public offer (FPO) at Rs 12 per share and a cap of Rs 13 per unit.

The fundraising is important for the bank to boost its capital base, especially after it announced last month that it has failed to make interest payments on its bonds after the RBI said its capital adequacy ratio was below regulatory ratio.

On a reported book value basis, Yes Bank's FPO is priced below its FY20 book value and the 50% discount to current market price seems to partly capture the future pain. However, reports state that on an adjusted book value basis, the FPO is priced at above 1x.

According to reports, though the discount suggests that there could be some short-term gains, valuations are not significantly attractive. Also, Yes Bank's asset quality concern, which could aggravate due to COVID-19-led economic disruptions, offers little comfort.

Meanwhile, the market regulator may look into a large amount of share transactions of the private lender under the Securities Lending and Borrowing Mechanism (SLBM) on July 9.

These transactions took place a day prior to the announcement of the bank's floor price for its FPO.

In other news, the Enforcement Directorate (ED) is expected to file the second prosecution complaint in the Yes Bank money laundering case today.

The agency may file the complaint against 13 individuals and entities including Dewan Housing Finance (DHFL) promoters Kapil and Dheeraj Wadhawan.

Earlier this month, the ED provisionally attached properties worth Rs 24 billion belonging to Yes Bank co-founder Rana Kapoor and the Wadhawan brothers.

The investigating agency has also raided the premises of travel company Cox and Kings and recorded statements of its founder Peter Kerkar and media baron Subhash Chandra in this case.

Yes Bank share price is presently trading down by 11%.

Speaking of the banking sector, note that 2019 was brutal for some banking stocks.

The market has severely punished them. This is due to issues such as worsening asset-quality, corporate governance, and inadequate capital.

Stocks such as Yes Bank and Lakshmi Vilas Bank are down more than 70%.

Falling Knives in the Banking Sector

Falling stock prices could be enticing. After all, we love deep discounts and good bargains.

But if you're thinking of buying these stocks it's important to remember this point - If a stock is in a falling spree, there's probably a good reason behind it.

And realizing this in a falling market is the first step towards correcting one's investing process.