The stock of Yes Bank surged by 17% on single-day trading on Tuesday 30th March 2021. Yes, Bank stock even hit the 20% Upper Circuit at Rs. 16.85. Let’s dig in deep, to know the possible reasons behind this rally in the Yes Bank Stock.
On Tuesday 30th March 2021, Yes Bank stock touched the 20% upper circuit at Rs. 16.85 and closed with 17% up at Rs. 16.4. As per the BSE data, the total traded volume in the stock was 2,44,76,737 shares.
The benchmark index BSE Sensex was up by 2.3% or 1128 points and closed at 50,136.58 on the same day.
Possible Reasons behind this rally in the stock:
The Captivating rally in the stock is the story which is built by operators, speculators, and other market participants is an important lesson for Retail Investors. Individual Investors should be aware of the lessons that they should not get trapped owing to averaging of their allocation. As of now, there are several challenges ahead of the bank which needed to be resolved. Until then, Investors should not make any investment decisions based on news or in operator’s or speculator’s game.