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YES Bank share slips nearly 2% in early trade

Share of the private lender, with Rs 2 face value has fallen 4% in one week and over 65% 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

twitter-logoBusinessToday.In | December 24, 2020 | Updated 13:18 IST
YES Bank share slips nearly 2% in early trade
Meanwhile, it has risen over 19% in a month amid rise in the private banking index and broader indices Sensex and Nifty, which have been hitting record highs

YES Bank share reversed from yesterday's bullish trend and fell 1.7% on Thursday. YES Bank stock opened higher at Rs 17.85 and also hit an intraday high of Rs 17.97 in the early session.

However, shares of the private lender erased early gains and fell 1.7% to hit the day's low of Rs 17.30 as against the last close of Rs 17.60 on BSE.

Share of the private lender, with Rs 2 face value has fallen 4% in one week and over 65% 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.

Meanwhile, it has risen over 19% in a month amid rise in the private banking index and broader indices Sensex and Nifty, which have been hitting record highs. Meanwhile, Sensex has gained 3% during the same period.

Market capitalisation of the lender stood at Rs 43,921.25 crore as of today's session. The stock has declined 62% since the beginning of the year. The stock has touched 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. Although, the stock shows buying interest in the range of Rs 15 - Rs 20, on a weekly basis as against the earlier Rs 11-15 range. Due to a spike in volume, the share price of the troubled lender can be seen rising, which is an early indication in the stock that it is getting accumulated.

On Wednesday, YES Bank shares were trading 3% higher after the brokerage firm Edelweiss Securities said it believes that YES Bank among other listed companies may move from midcap to the large-cap category in the new list of large, mid and small-caps by Association of Mutual Funds of India (AMFI). The list is expected to release in the first week of January 2021, which will be effective for the February-to-July 2021 period.

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