Yes Bank experiences a decline in the stocks

The Yes Bank experienced decreased morning gains and saw a decline in the trades. While Sensex and Nifty saw increased gains, Yes Bank suffered a downfall in the market. Since the last three days, the bank had been experiencing prominent gains which led to the stock of the Bank opening at a high rate but soon fell and reached the day’s lowest of Rs. 17.90. This was low by 1.9% as compared to the last close of Rs. 18.05. Later in the day, the stocks of Yes Bank saw a gain and reached a high of Rs. 18.50 on BSE.

Yes Bank along with some other campaigns were reinstated as a large-cap stocks company in the Semi-Annual report of the Association of Mutual Funds in India (AMFI). AMFI placed Yes Bank back on the list and announced the same in the review that happened earlier this month. This led to the stocks of the bank rising higher than 5, 20, 50, and 100- day moving averages. Simultaneously, the stocks were lower than 200-day moving averages. In the last week alone, the bank saw a fall in its stocks by 0.28% and an overall stocks drop of 7% in one month.

The Market capitalization of the bank was recorded at Rs. 45,098.83 crore while the bank also touched a 52- week high of Rs. 87.95. The loss that the bank witnessed also didn’t fall back and the Yes Bank recorded a 52-week low of Rs. 5.55. The shares of the lender that had Rs. 2 face value has declined 59% in one year. The bank despite all the lows is trying to remain upright and hence announced that it had registered a 1.3 percent growth sequentially in loans and the advances grew to Rs. 1.69 lakh crore during the last quarter.

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