Reversing its losing streak, Yes Bank shares on Thursday settled with nearly 6 per cent gain which analysts attributed to value-buying and short-covering. On the BSE, the scrip opened on a positive note and further climbed 12.5 per cent to Rs 48.15. It closed with a gain of 5.96 per cent at Rs 45.35. On NSE, shares closed 5.84 per cent higher at Rs 45.30. During the day, it had risen 14.01 per cent to Rs 48.80. The market capitalisation of the company stood at Rs 11,566.39 crore on the BSE.
In terms of volume, 241.64 lakh units of Yes Bank changed hands on BSE, while 39.81 crore scrips were traded on the NSE. The counter was under selling pressure in the previous five trading sessions due to uncertainty over its $2-billion fund raising plan.
“Yes Bank shares has been consistently witnessing selling pressure amid high speculation of asset quality concerns and its inability to raise funds.