Indian shares tumbled on Friday, as banking stocks came under pressure after the country’s central bank placed troubled lender YES Bank under a moratorium and took over its board. The meltdown in global markets on rising coronavirus fears also weighed on the sentiment. The BSE Sensex ended 894 points lower at 37,576 while the Nifty50 index settled 289 points higher at 10,979.

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YES Bank stock hit an over a decade low and was the biggest percentage loser on the blue-chip index, falling over 55 percent.

The Reserve Bank of India said late on Thursday it had taken over the Mumbai-based bank’s board for 30 days and imposed limits on withdrawals, due to a serious deterioration in the fifth-largest private sector lender’s financial position.

The Nifty Bank index also fell as much as 3.5 percent, also weighed by over 6 percent slide in shares of top lender State Bank of India. The state-owned bank said late on Thursday its board had given an in-principle approval to explore an investment opportunity in Yes Bank.

Credit rating agency Moody’s said the lack of a coordinated, timely action highlighted continued uncertainty over bank resolutions in India.

Meanwhile, the broader markets were also in the red with the Nifty Midcap index and Nifty Smallcap index down 2.4 percent each.

Among stocks, Bajaj Auto, GAIL, Maruti Suzuki, Asian Paints, and Eicher Motors were the top gainers on the Nifty50 index, while YES Bank, Tata Motors, Zee, Tata Steel, and SBI led the losses.

All sectoral indices were also negative for the day. Nifty PSU Banks lost 5.2 percent, Nifty Metals shed 4.3 percent, Nifty Bank declined 3.5 percent, and Nifty Realty fell 3 percent. Other indices Nifty IT, Nifty FMCG, Nifty Pharma were also down between 1-2 percent.

Sentiment was also dampened by declines in Asian shares and U.S. stock futures following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.