Reversing trend after three straight days of gains, YES Bank share was trading 4.2% lower on Wednesday, led by profit-booking, amid a trend reversal in broader benchmark indices Sensex and Nifty.
Amid profit booking, YES Bank share price today opened higher at Rs 14.75 today, although fell 4.2% lower to the day's low of Rs 14.05 as against the earlier close of Rs 14.67 on Tuesday. The stock also hit the day's high of Rs 14.77 on BSE.
In the last one month period, YES Bank stock has delivered 6.3% returns to investors as against Sensex that also gained 9% during the same period.
However, the stock of the private sector lender has fallen 3.34% in one week, 69% since the beginning of the year and over 77% in one year. YES Bank stock is trading higher than 20, and 50-day moving averages but lower than 5, 100, and 200-day moving averages. Market capitalisation of the lender has fallen to Rs 35,522 crore today.
In the last few sessions, YES Bank stock were rising amid high investor participation, led by buoyancy in broader benchmarks Sensex and Nifty that are hitting fresh lifetime highs almost every day.
The stock also saw high buying activity following news of YES Bank's inclusion in the MSCI India Index. This helped the stock gain momentum as inclusion in the MSCI Global Standard Index, widely used by international fund houses for benchmarking global equities portfolios, could attract fresh inflows of capital from overseas into the private lender.
The two digits stock also gained for seven consecutive sessions after it posted June- September earnings in early November.
Shares of the private lender hit a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55.
On the technical front, YES Bank stock has just managed to hold in two figures and is in a mildly bearish range. The lender 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 stocks that it is getting accumulated.