YES Bank for the last few days had been experiencing sudden losses and a decline in their growth rates. On Wednesday, the bank was trading at a 3% higher rate than two nights ago. The change in the growth rate came about after Edelweiss Securities, a brokerage firm named a few companies who they expect will move to the large-cap category from the mid and small-caps by Association of Mutual Funds of India (AMFI). YES Bank was one of the companies on the list than expected growth. Among other companies were Gland Pharma, Hindustan Aeronautics, PI Industries, Jubilant FoodWorks, Adani Enterprises, etc. Edelweiss Securities is expected to announce the list at the beginning of January 2021 to get into effect from February up to July 2021.
Reviving from the downfall, the stocks of YES Bank opened greater at Rs. 17.50 and at a 2.9% profit to reach the highest rate of the day of 17.85 as compared to the last close of Rs. 17.34. YES Bank also experienced an intraday low of Rs. 17.04. This positive trend that the stock price witnessed was also along the line with the whole market as Sensex and Nifty saw a gain of 0.65% each. Since the last one week, YES Bank has lost about 6% of its shares. With Rs. 2 face value, the bank has overall seen a drop of about 64% in a single year. But now the breeze has taken a different turn, the bank’s stock is trading more than 20, 50, and 100-day moving averages but less than 5,200 days moving average.
Yes Bank rose by more than 21% in one month in the middle of the private banking index and entities like Sensex and Nifty who were also hitting new records. The market capitalization of Yes Bank stayed stable at an increase of Rs. 44,372 from earlier Rs. 42,718 in the last session. The stock had been done by 62% from the beginning of the year.
