scorecardresearch

YES Bank share rises 4% after two sessions

YES Bank share price opened higher at Rs 14.25 and hit an intraday high of Rs 14.63, rising 3.9%. The stock also fell to the day's low of Rs 14.10 earlier in today's session on BSE

The stock of the troubled lender touched a 52-week high of Rs 178 and a 52-week low of Rs 5.65 The stock of the troubled lender touched a 52-week high of Rs 178 and a 52-week low of Rs 5.65

Shares of YES Bank were trading almost 4% higher in Friday's trade after 2 days of consecutive fall.

YES Bank share price opened higher at Rs 14.25 and hit an intraday high of Rs 14.63, rising 3.9%. The stock also fell to the day's low of Rs 14.10 earlier in today's session on BSE.

Yesterday, YES Bank closed lower at Rs 14.15, led by profit booking. The stock of the troubled lender touched a 52-week high of Rs 178 and a 52-week low of Rs 5.65.

In the last one week, the stock has erased 0.14% returns. Meanwhile, it has risen over 13% in just a month, led by buoyancy in Sensex and Nifty that scaled fresh lifetime highs almost every day this week.

YES Bank stock also saw buying momentum last week, following news of YES Bank's inclusion in the MSCI India Index. Inclusion in the MSCI Global Standard Index, was bullish for the stock as this could attract fresh inflows of capital from overseas into the private lender.

The stock of the private sector lender has fallen 69% since the beginning of the year and over 78% in one year. YES Bank stock is trading higher than 5, 20, and 50-day moving averages but lower than 100, and 200-day moving averages. Market capitalisation of the lender rose to Rs 36,379 crore today.

On the technical front, YES Bank stock has just managed to hold in two figures and is in a mildly bearish range. The stock shows buying interest in the range of Rs 11-Rs 15, on the weekly basis. Due to a spike in volume, the share price of the troubled lender can be seen rising, but still within the range due to supply around Rs 16 - Rs 17 zone. It is an early indication in the stock that it is getting accumulated.

As per Kotak Institutional Equities, YES Bank has seen the highest increase in stake by FPIs in September 2020 quarter, while BFIs have registered the highest decrease in stake for the lender.

As per a report published by Invezz.com, the stock was most sought after among Indian investors, clocking in 90,000 online searches in a month. That means, the two-digit stock has been searched over 3x more times than Microsoft, that stands at 26,600 average online monthly search volume. The stock of the private lender was closely followed by Amazon with 89,200 online searches per month and Apple that clocked 78,600 online enquiries per month. Infosys, State Bank of India (SBI), and Indian Railway Catering and Tourism Corporation (IRCTC) were the other Indian companies in the list of the top ten most desired stocks in India, the report showed.

In another update, the private sector lender has launched a special service called SMS Pay, that would enable merchants to accept contactless and remote payments from their customers. The lender has further introduced a host of new features on its credit cards, in line with its focus on customer-centric innovations.

Rupee rises by 11 paise to 73.77 amid weak dollar, sustained foreign fund inflows

Burger King India to launch IPO on December 2, price band at Rs 59-60 per share

Cadila's COVID-19 vaccine by March 2021? Share hits 52-week high

Share Market News Live: Sensex drops 150 points, Nifty at 12,960; ICICI Bank, Airtel, Infosys top losers

Stocks in news: Larsen & Toubro, Mahindra & Mahindra, Gillette, United Spirits, Rane Holdings