Yes Bank shares fall 8% amid profit booking

Yes Bank shares experienced a decline of nearly 8% during Monday morning trading, following a consecutive surge in the previous week. This drop is attributed to profit booking after a sharp rally in the stock witnessed last week, during which it reached a fresh 52-week high of 32.85.

Both BSE and NSE have placed Yes Bank securities under the short-term ASM (Additional Surveillance Measure) framework, a move aimed at cautioning investors about potential volatility in share prices.

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Technical analysts have noted a substantial rally in the stock over the past few weeks, indicating the possibility of profit booking at the current juncture.

As of 11:26 am, Yes Bank shares were trading 6.85% lower at ₹29.25.