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YES Bank share rises 5% after three days

Meanwhile, the stock of the private sector lender has fallen 2.36% in a week and over 60% in one year

twitter-logoBusinessToday.In | December 16, 2020 | Updated 14:22 IST
YES Bank share rises 5% after three days
YES Bank stock is trading higher than 20, 50 and 100-day moving averages but lower than 5, 200-day moving averages

YES Bank stock saw investor interest today after 3 days of consecutive fall, led by buying sentiment in the private banking index and broader indices Sensex and Nifty, which hit fresh record highs today.

YES Bank share opened at Rs 18.69 on Wednesday and later rose to Rs 19.19, rising 4.97% against the last close of Rs 18.28. The stock also hit day's low of Rs 18.56 during the session.

In the last week, the stock has risen 28%. The stock also gained investor interest following reports that the stock will be upgraded to large-cap category from mid-cap by mutual fund industry body The Association of Mutual Funds in India (Amfi).

It has risen over 27% in just a month, following the news of the 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.

Meanwhile, the stock of the private sector lender has fallen 2.36% in a week and over 60% in one year. YES Bank stock is trading higher than 20, 50 and 100-day moving averages but lower than 5, 200-day moving averages.

The stock of the troubled lender touched a 52-week high of Rs 87.95 and a 52-week low of Rs 5.65. Market capitalisation of the lender rose to Rs 46,602.13 crore today.

Meanwhile, broader indices traded at new record highs on Wednesday, amid positive global equities. Sensex traded 245 points higher at 46, 510 and Nifty gained 70 points to 13,640. In today's session, Sensex hit an all-time high of 46,592 and Nifty too logged a lifetime high of 13,666.

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