HDFC Bank shares in focus: Bank stocks surge amid FCNR(B) bonanza

On Thursday, HDFC Bank shares remained a point of interest as banking stocks experienced substantial gains, driven by the surge in Foreign Currency Non-Resident (Bank) deposits mobilized by Indian banks. The Reserve Bank of India's concessional swap facility, which was operational from June 8 to August 31, played a significant role in this development, with banks collectively raising an impressive $127.226 billion in fresh deposits.

HDFC Bank's stock reflected this positive sentiment, surging 1.6 per cent in early trading to ₹712.60 from its previous closing price of ₹700.80 on the National Stock Exchange (NSE). By 10:33 am, the stock had settled at ₹710.30, after initially opening at the day's low of ₹705. The stock had previously reached a 52-week low of ₹698.50 on September 1, 2026.

Throughout the week, HDFC Bank's absolute returns remained unchanged, while it experienced a decline of approximately 6 per cent on a monthly basis and over 28 per cent year-to-date. The total market capitalization of Indian banks stood at ₹10.94 lakh crore, with trading volumes amounting to 105.01 lakh shares, valued at ₹744.11 crore.

Within the private banking index, RBL Bank, Bandhan Bank, IndusInd Bank, ICICI Bank, and Axis Bank emerged as the top gainers. The Nifty PSU Bank index also witnessed a rise of nearly 2 per cent, closing at 8,658.55. All listed banks showcased positive performance, with Bank of Maharashtra, Indian Bank, PSB, and UCO Bank leading the charge.