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YES Bank share price rises up to 50% as normal services to resume today

BusinessToday.In     March 18, 2020

YES Bank shares gained almost 50% intra day on Wednesday as the crisis hit lender was scheduled to begin normal operations by evening today. The private lender will restore full banking services after 6 pm.

Following the news, YES Bank stock price opened with a gain of 9.97% and later touched an intraday high of Rs 87.95, rising 49.96% on BSE. This was against the previous closing value of Rs 58.65.

Although later, the shares of the lender gave up all gains and traded and touched an intraday low of Rs 49.9, falling 14.92%. YES Bank stock price has traded in a wide range of Rs 38.05 in Wednesday's volatile session.

The stock price of the lender has increased 102% in one week, 66 % in one month and 24% since the beginning of the year. YES Bank stock has risen 148.1% in the last 4 days.

YES Bank shares trade higher than their 5, 20, 50 and 100-day moving averages but lower than 200-day moving averages.

As soon as the services open at the start of banking hours on March 19, customers will be able to withdraw their deposits that were blocked since March 5.

Earlier, the apex lender took full control of the lender, restricting withdrawals to Rs 50,000 per depositor till April 3, 2020.

In Wednesday's bearish session, YES Bank share price closed at Rs 60.80, rising 3.67% or 2.15 points higher than its previous close of Rs 58.65.

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