HDFC Bank shares fall 2% as banking stocks decline amid market slump
HDFC Bank traded at ₹722.05 down 1.8% at 10:47 am, after opening ₹731.60; The day’s intraday low was ₹721.40, with a range of ₹721.40–₹733.00
On Monday, HDFC Bank shares experienced a nearly 2% decrease, mirroring the losses seen in banking and financial stocks as part of a broader market downturn. The stock's focus remained steady, even as bank unions decided to cancel their scheduled three-day nationwide strike, following assurances from the Indian Banks’ Association (IBA) regarding their demands.
By 10:47 am, HDFC Bank shares were trading at ₹722.05, a 1.8% drop from their previous close of ₹735.60. The stock saw an intraday low of ₹721.40 on the NSE, after starting at ₹731.60, trading within a range of ₹721.40 to ₹733. The buy quantity accounted for 45.93% of the traded volume, totaling 10,31,528 shares, while the sell quantity made up 54.07%, equating to 12,14,542 shares.
The traded volume reached 83.65 lakh shares, with a traded value of ₹613.08 crore. HDFC Bank's total market capitalization stood at ₹11.12 lakh crore. The bank unions' decision to cancel the strike came late on Sunday night, after the IBA committed to addressing their concerns, including the designation of all Saturdays as holidays.
Regular banking operations resumed on Monday following this decision. Over the past week, HDFC Bank shares have declined by over 2%, with the stock largely flat for the month, registering a modest gain of 0.24%. On a year-to-date basis, the shares have fallen by over 27%.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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