HDFC Bank climbs for third straight session, up 12% from last week’s Low
The banking stock has staged a sharp recovery this week, outperforming the benchmark index despite continued selling pressure at higher levels
HDFC Bank shares experienced a three-day rally, soaring 12.36% from the 52-week low of ₹669.20 reached on October 28. The stock opened at ₹760.00 and reached an intraday high of ₹762.70, remaining above ₹749.10 throughout the day. Market capitalisation climbed to ₹11,59,977.21 crore, with traded volume consisting of 323.52 lakh shares valued at ₹2,441.80 crore.
Despite extreme selling pressure, where sellers accounted for 85.79% of the total order quantity, the stock continued to climb. P/E ratio expanded to 14.19, while Bank Nifty provided strong sectoral support. The stock's one-week return now stands at 10.11%, outpacing the Nifty 50's 6.37% gain, although a year-to-date loss of 24.09% remains significant.
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