HDFC Bank shares surges 2.86%, lead Nifty 50 gainers
Despite the price gain, sellers continue to dominate the order book at 68.82% against buyers at 31.21%
On Tuesday, HDFC Bank shares surged 2.86%, trading at ₹720.00 on the NSE, marking a 2.86% increase from the previous Monday's close of ₹700.00. The stock opened at ₹708.00 and reached an intraday high of ₹721.30, holding above ₹706.05 on the downside. The trading volume reached 146.96 lakh shares worth ₹1,051.91 crore, significantly higher than Monday's ₹718.40 crore, with a deliverable quantity of 60.49%.
Despite the price gain, sellers still dominated the order book at 68.82%, with buyers at 31.21%, suggesting ongoing supply despite the bullish trend. The market capitalization recovered to ₹11,11,336.95 crore, and the P/E ratio increased to 13.48 from Monday's 13.34. Reliance shares were in focus for the second session, with SAMCO flagging a historical rally pattern.
The banking index supported the sector, with Bank Nifty opening near 55,436, clearing its resistance around 55,200 and trading at 55,002 by mid-session. The RSI improved to around 52, crossing the neutral mark, with immediate resistance at 55,330–55,600 and support at 54,740–54,500. The stock remains down 27.32% year-to-date, contrasting the Nifty 50's 9.55% decline, and the 52-week low of ₹669.20 was recorded last week on October 28.
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