Covid-19 fears persist, YES Bank share price declines by nearly 3.5% in last one week

YES Bank share price: The surge in Covid-19 cases across the country has muted the sentiment in the market, beginning this week. With a majority of shares declining, YES Bank followed suit and fell by over three and a half per cent in the last week.  

Once a heavyweight, YES Bank, on Tuesday, dipped by over one per cent to Rs 14.05 per share. The decline in the shares began from Monday when the benchmark indices, as well as broader markets, fell substantially amid the fear of rising coronavirus cases in India.  

Last week, YES Bank was trading around Rs 14.55 per share, aiming to break the resistance of Rs 17-18 per share level as experts predict. Market analysts say, “YES Bank shares too are going to be range-bound between Rs 13-14 per share, till it breaks the resistance.”  

Banking and financial stocks are the most affected after covid fears gripped the market. Moreover, Bank Nifty too, which was inching towards 32000 level, is now trading a little above the 31000 level.  

With Q4 results kicking in, YES Bank has informed the exchanges that the Board meeting of the company is scheduled on April 30. During which it will consider and approve the audited financial results of the bank for the quarter and year ended March 31, 2021.  
Once YES Bank breaches the resistance level, experts predict the stock would show a new 52-week high going forward. But in order to happen so, it will require the support of the Bank Nifty and other favourable factors to grow. 
One of the major private banks once, YES Bank suffered due to rising NPAs (Non-performing assets) after major collapse of companies such as Jet Airways and DHFL, to whom this lender had an exposure. 
The management has been looking out for a revival of the bank for quite some time now. The exposure to the big companies impacted the operations of the bank and so the investors' sentiment towards the bank also did fall. 

YES Bank had touched its last high last year in June at Rs 31.95 per equity share.