HDFC Bank market cap briefly crossed the Rs 14 lakh crore mark for the first time ever in November 28 trade.
HDFC Bank stock settled lower at Rs 1,793 per share on the NSE, down 1.06 percent. The company lost up to Rs 15,000 crore in m-cap.
The shares of the banking heavyweight were trading in green in the morning trade. At around 10.30 am, the HDFC Bank stock quoted at Rs 1,825.90 per share on the NSE, up marginally by 0.75 percent.
A total of 93,000 shares changed hands today of HDFC Bank generating a total turnover of Rs 16.92 crore. The large cap company's market cap briefly crossed Rs 14 lakh crore, as per BSE website. The shares of the company have a PE of 20.98x.
In volume terms, over 55 lakh shares of the company were traded on the NSE till 10.30 am. The stock has gained 17.94 percent in the last six months, outperforming the benchmark Sensex, which is up 5.93 percent during the same period.
Nifty Bank was up 0.12 percent with 8 out of 12 constituents of the index trading in green.
The sharp up trend in the largest private sector lender was seen amid MSCI November rebalancing coming into effect.
The Indian equities expected to see net inflows of $2.5 billion from foreign institutional investors (FIIs) as part of the Morgan Stanley Capital International (MSCI) indices' quarterly rebalancing.
HDFC Bank, in particular, was in focus due to the anticipated increase in its weightage, which was expected to bring in an estimated $1.88 billion of passive inflows. MSCI had announced this weightage adjustment earlier this year, implementing it in two stages.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
