YES Bank share was trading 1.5% higher in Tuesday's opening trade, rising for the third straight session, as a rally in broader benchmark indices Sensex and Nifty to fresh record highs buoyed banking stocks.
Amid heavy buying activity and investor participation, YES Bank share price today opened at Rs 14.65 today and later rose 1.5% to the day's high of Rs 14.75 on BSE. The stock also hit the day's low of Rs 14.50 as against the earlier close of Rs 14.53 on Monday.
In the last one month period, YES Bank stock has delivered 9.21% returns to investors as against Sensex that also gained 9% during the same period.
However, the stock of the private sector lender has fallen 68% since the beginning of the year and 77% 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 36,530.05 crore today.
The stock has been rising amid buoyancy in broader benchmarks Sensex and Nifty that are hitting fresh lifetime highs almost every day, led by a strong rally in most banking and financial stocks.
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. All changes in constituents for the MSCI global standard indices will be implemented at the close of November 30, 2020.
Shares of the private lender that have traded in single digits this year, hit a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55.