Shares of YES Bank and IndusInd Bank gained on Monday as both the private sector lenders will join the BSE stock exchange’s 30-member Sensex index, effective December 18.
Following a positive open, YES Bank shares jumped as much as 2.5 per cent to Rs 314 against the previous close of Rs 306.45. Similarly, IndusInd Bank opened at Rs 1,647 against the previous close of Rs 1,630.85, touched the day's high of Rs 1,658.50 and a low of Rs 1,630.
YES Bank stock ended higher by 2.2 per cent at Rs 313.20 on the BSE and IndusInd Bank stock closed up by 1.17 per cent at Rs 1,649.90.
Lupin Ltd and Cipla Ltd will make way for the two banks, according to a statement from Asia Index Pvt Ltd.
YES Bank has gained nearly a third so far this year, while IndusInd Bank has added more than 45 percent. Lupin has shed 44 per cent, while Cipla has gained about 4 per cent in 2017.
(With inputs from Reuters)