HDFC Bank share price falls 2% amid strong volumes; drags Nifty, Sensex lower as markets digest US Fed minutes

HDFC Bank’s share price fell as much as 2 percent to Rs 1,693 on Thursday morning, with strong trading volumes pointing to heightened activity. By 10 am, more than 50 lakh shares had changed hands, exceeding half of the stock’s 10-day average volume in less than an hour of trade.

HDFC Bank stock saw multiple large deals aggregating over Rs 230 crore executed on the NSE within the first few minutes of opening, possibly contributing to the selling pressure.

The stock's decline weighed on benchmark indices, which were down for the third straight session amid weakness in financial services and automobile stocks. At 9:43 am, NSE Nifty was at 22,876, down 56 points or 0.3 percent, while BSE Sensex was at 75,666, down 273 points or 0.4 percent. The Bank Nifty index was down 0.5 percent or 250 points at about 49,300.

Market sentiment was also hit by concerns over potential new tariffs from US President Donald Trump and cautious signals from US Federal Reserve officials. Minutes of the Fed’s January meeting showed policymakers were in no hurry to cut interest rates, citing the need for further easing in inflation. They also expressed concerns about the impact of Trump's proposed inflationary tariffs.