Friday was a bright day in the stock market. The Sensex saw a jump of more than 900 points. While SBI’s stock emerged as the top performer. This jump in the bank’s stock has been seen just before the ‘lock-in’ period of Yes Bank is over. Read this news…
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Shares of State Bank of India (SBI Share Price) stock market today (Stock Market) There is a storm brewing. BSE Sensex (BSE Sensex) But where it has remained the top performer for a long time. Whereas NSE Nifty (NSE Nifty) But even today these top-5 performers (Top-5 Gainers) is one of the. SBI shares rose on the last day of the week, yes bank Yes Bank Just before the end of the ‘lock-in’ period of his investment in
When Yes Bank was drowning, SBI extended its hand to help it. SBI had initially bought 49 per cent stake in Yes Bank. And now 26.14 percent stake is ‘sealed’ for 3 years. This lock-in period of SBI’s investment in Yes Bank is ending on Monday, March 6.
SBI stock jumped
According to a news agency, SBI does not want to hold a permanent stake in Yes Bank of the private sector. Therefore, the market expects that SBI may reduce its stake in Yes Bank in the coming days. Therefore, due to profit booking in the market on the last day of the week, the stock of SBI saw a rise.
On Friday, SBI shares opened at Rs 541.20 with an uptrend. While it closed at Rs 533.80 on Thursday. After this, it went up to a high of Rs 564 during the day’s trading. While it was trading around Rs 561.20 just before the end of the business. At the close of trading on BSE, the stock closed at Rs 560.60.
Fluctuations in the stock of Yes Bank
The effect of the news of SBI reducing its stake was also visible on Yes Bank’s stock. The bank’s stock opened flat in early trade. Later, taking a slight increase, it went up to the level of Rs 17.69. Later it broke down to Rs 16.86. The stock closed at Rs 16.85 at the close of trading on BSE.
By the way, if we look at the condition of Yes Bank’s stock in the last 5 days, it has seen constant ups and downs. On February 27, the bank’s share was around Rs 16.20. On March 1, it touched the level of Rs 18.35 and now it is also around Rs 17.
Big ruckus will be seen on Monday
A big ruckus can be seen in the stock market on Monday. Experts believe that after the end of the lock-in period, many shares of Yes Bank will come in the market, which can immediately bring down the share price. On the other hand, profit booking can be seen in SBI stock.
