After the boom in the Share Market yesterday, today the boom opens, know the danger bells YES or NO?
Share Market Updates: During the whole day’s trading yesterday, a good boom was registered in the market. At one time the BSE Sensex saw a gain of more than 400 points, but today the situation is just the opposite. There is an atmosphere of fear in the market.
Share Market Open Today: After seeing a boom in the market yesterday, a huge decline is being seen today. The Sensex fell as soon as it opened. Same is the case with Nifty. The Sensex has started trading at 61,001 with a fall of 291 points, while the Nifty is trading at 18,869 with a weakness of 94 points. Let us tell you, yesterday the market lost its edge due to profit booking in the last hour. At the end of trading, the BSE Sensex closed with a slight gain of 44.42 points. Whereas, NSE Nifty closed flat. The Nifty closed at 18,016.20 points, up just 0.35 points. In today’s trade, there was a good rally in IT stocks. HCL shares were the biggest gainers. HCL shares closed at Rs 1128, up 5.34%.
Yes or No for investing in Yes Bank?
Yes Bank stock has lost almost 35 per cent from its 52 week high. In December 2022, the share price of Yes Bank had reached Rs 24.75 due to the rise. However, the stock continues to take a beating after that. Under selling pressure, Yes Bank’s stock closed down at Rs 16.30 today. In this way the stock has lost about 35 per cent from its 52 week high. In such a situation, if you have invested in the shares of this bank then what to do? Should I exit by selling the shares or wait? Come, let us know what is the opinion of the market expert regarding the stock of Yes Bank.
Buy after the lock-in period is over
According to stock market experts, Yes Bank share price is trading in the range of Rs 16 to Rs 24. The three-year lock-in period for major banks like IDFC First Bank, Axis Bank, HDFC Bank, etc is coming to an end in March, 2023. These banks had invested in the shares of Yes Bank for three years. With the end of the lock-in period, the stock may decline further. This would be a buying opportunity. If the share price of Yes Bank comes around Rs 14, then it would be the right time to buy. Whereas, it would be right to sell at Rs.24 to Rs.26.
Yes Bank Share Outlook
Market experts say that Yes Bank’s margin is at its peak and now the market is expecting good news on this front. However, it will take time for asset quality to improve and come under control. But, investors are advised to keep an eye out for fresh Yes Bank shares coming to the retail market in March 2023 due to the expiry of the three-year lock-in for IDFC First Bank, HDFC Bank, Axis Bank etc.