HDFC Bank climbs 0.84% as Q2 results loom; sellers still dominate
The stock opened at ₹707.00, hit an intraday high of ₹716.50 and a low of ₹705.10
HDFC Bank's shares climbed 0.84% to ₹710.85 on the NSE, closing Monday at ₹704.90. The stock opened at ₹707.00 and saw intraday highs of ₹716.50 and lows of ₹705.10. Despite the gains, selling pressure was evident, with 72.76% of the traded volume being on the sell side, totaling 20,45,284 units. The buy side accounted for only 27.24% of the volume, amounting to 25,624 units.
The traded volume reached 98.08 lakh units, resulting in a traded value of ₹698.82 crore. The market capitalisation expanded to ₹10,95,799.71 crore, and the adjusted P/E ratio stood at 13.56. The banking index, Bank Nifty, hovered around 54,918, with analysts predicting 55,500 as the immediate resistance level. A successful break above this level could propel the index towards 55,900–56,500.
Support is found between 54,380–54,650 in the short term, with a deeper support zone at 53,500–54,000. The stock has declined by 28.30% year-to-date, still below its 52-week high of ₹1,020.50 reached on October 23, 2025. The 52-week low of ₹681.90, set on September 11, 2026, remains the primary downside benchmark. With the second quarter results of HDFC Bank expected on October 17, investor attention will be centered on credit growth, net interest margins, and management's commentary regarding deposit costs and asset quality, considering the ongoing rate-tightening cycle.
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