HDFC Bank shares fall 2% to fresh 52-week low; here’s why
The stock closed at ₹703 on Tuesday, opened at ₹698 on Wednesday, rose to ₹700, and then declined
HDFC Bank shares experienced a 2% drop on Wednesday, plummeting to their lowest level in 52 weeks as the stock traded below its prior close. The stock fell to ₹690.65, marking a new 52-week low, before settling at ₹694.55 at 11:47 am. The previous close saw the stock at ₹703 on Tuesday. It opened at ₹698 on Wednesday, reaching ₹700 within the day before slipping again.
As of now, buy quantities accounted for 51.90%, or 19,14,143 shares, while sell quantities made up 48.10%, or 17,74,158 shares. The total traded volume amounted to 167.20 lakh shares, with a traded value of ₹1,162.17 crore. HDFC Bank's total market capitalization stood at ₹10.70 lakh crore. The upper price band for the stock was set at ₹773.30, and the lower band at ₹632.70.
The adjusted P/E ratio of the stock was recorded at 13.52. Comments must be in English and written as full sentences, avoiding any abusive or personal language.
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