Shares of India's fifth-largest private sector lender Yes Bank gained over 5% on Friday for the first time after inclusion in the index. The stock of Yes Bank emerged as the biggest gainers among the Sensex stocks on Friday and the largest contributor in fuelling up the index.
Shares of India’s fifth-largest private sector lender Yes Bank gained over 5% on Friday for the first time after inclusion in the index. The stock of Yes Bank emerged as the biggest gainers among the Sensex stocks on Friday and the largest contributor in fuelling up the index. The stock of Yes Bank advanced as much as 5.34% to the day’s high of Rs 334 on BSE while it jumped 5.49% to the day’s high of Rs 334.5 on NSE. Shares of Yes Bank added nearly 30 points to the upsurge in Sensex out of about 100-point gain in the index. With over a 5% rise in the share prices of Yes Bank, the private sector lender now commands a market capitalisation of Rs 76,765.76 crore at the day’s high price of Rs 334 from Rs 72,881.5 crore as per Thursday’s close. A huge trading volume has been observed in the shares of Yes Bank, as at 11:50 am, more than 1.6 crore shares exchanged hands on both NSE and BSE with about 1.5 crore shares on NSE alone.
The stock of Yes Bank also peaked the volume and turnover counters among the 50 stocks of Nifty on National Stock Exchange. With a huge trading volume in such a blue-chip stock, Yes Bank shares recorded a turnover of about Rs 508 crores out of the total Rs 4,705 crore of the Nifty index, as at 10:50 am. Yes Bank is the sixth-largest private sector lender according to the market capitalisation. The most valued lender HDFC Bank holds the top place, commanding a market capitalisation of about Rs 4,82,216.26 crore. The banking sector benchmark index Nifty Bank gained 0.2%, Nifty Pvt Bank rose 0.4% while Nifty PSU Bank index lost 0.55% led by a slump in all the components with heavyweights such as SBI and Bank of Baroda shedding up to 1.2%.
Meanwhile, India’s stock market traded higher with key equity indices Sensex and Nifty hitting their respective record highs following the lifetime high closing on Wall Street overnight. The US benchmark index Dow Jones Industrial Average breached the psychological 25,000 mark for the first time ever on Thursday. The benchmark Sensex jumped 205.57 points to the record high of 34,175.21 while the broader Nifty added 58 points to mark a high of 10,562.8 for the first time. Shares of Birla group telecom company Idea Cellular jumped as much as 12% the gains on the back of fundraising plans of Rs 6,750. BSE Sensex gained 51.63 points to begin at 34,021.27 and NSE Nifty added 29.45 points to open at 10,534.25.