YES Bank sees a sharp plunge of 5%, trades near 5-year low
"The sudden fall might have occurred due to derivatives play as today is the expiry of weekly bank derivatives," said Sameer Kalra, Founder, Target Investing.
NEW DELHI: Shares of YES Bank witnessed a sudden fall of nearly 5 per cent in the afternoon trade on Thursday to touch their 5-year low of Rs 95.25.
Shares of the company opened at Rs 100.60 and touched an intraday high and low of Rs 102.15 and Rs 95.25 in the trade so far.
"The sudden fall might have occurred due to derivatives play as today is the expiry of weekly bank derivatives. Investors will probably stay away from this stock till the first quarter numbers come out," said Sameer Kalra, Founder, Target Investing.
The stock has been in the negative territory since Tuesday.
The shares of the bank closed 3.56 per cent lower at Rs 96.25 on BSE.
Shares of the company opened at Rs 100.60 and touched an intraday high and low of Rs 102.15 and Rs 95.25 in the trade so far.
"The sudden fall might have occurred due to derivatives play as today is the expiry of weekly bank derivatives. Investors will probably stay away from this stock till the first quarter numbers come out," said Sameer Kalra, Founder, Target Investing.
The stock has been in the negative territory since Tuesday.
The shares of the bank closed 3.56 per cent lower at Rs 96.25 on BSE.