Yes Bank shares saw an 8% drop during Monday’s trading, undoing the spike that brought the shares to a 52-week high of ₹32.85 the previous week.
Following the strong rally, profit booking occurred, which led to a notable 11% decline on Monday.
Short-term ASM was introduced by BSE and NSE, alerting investors to possible share price volatility.
The following factors affect Yes Bank’s performance:
The clearance of HDFC Bank’s stake purchase by the RBI and SBI’s decision to hold onto its holding contributed to a four-day winning streak that saw the stock rise byyes ba about forty percent.
Contrary to claims that it is decreasing its position, SBI still owns a 26.13% stake, valued at ₹23,577 crore.
Examine Market Trends and Prospects:
Although a weekly rise of 27% and a 35% increase in 2024, market observers point to the possibility of profit booking because of the significant recent gains. In light of the current rise, investors should exercise even than caution while using the short-term ASM approach.
Yes Bank Shares’ Current Status:
– The share ended trading at ₹28.86 on the BSE and concluded at ₹28.35, indicating a 9.71% decline.