Explained: Why HDFC Bank share price gained 2% today

HDFC Bank’s market capitalisation surpassed Rs 14 lakh crore on Tuesday after its shares gained in early trade, buoyed by reports of a major block deal.
The block deal involved the sale of 21.7 lakh shares, valued at approximately Rs 392 crore based on the bank’s previous closing price of Rs 1,804.55.
HDFC Bank shares rose 2% in early trade to touch a day high of Rs 1,837. At 1:34 pm, the stock was trading 1.25% higher at Rs 1,827.10.
The identities of the buyers and sellers in the transaction remain undisclosed. However, the deal underscores strong investor confidence in HDFC Bank, which has gained 14% over the past year. Despite this, the bank’s performance has slightly lagged behind the broader NSE Nifty 50, which rose 18% during the same period.
The bank’s market cap last crossed Rs 14 lakh crore during intraday trade on November 28, before the stock settled below Rs 1,800.
A similar surge was seen on November 25 when the stock rallied past Rs 1,800 to hit an all-time high, driven by extraordinary trading volumes.
That rally was linked to MSCI’s November index rebalancing, which increased HDFC Bank’s weightage and attracted an estimated $1.88 billion in passive inflows.
HDFC Bank continues to attract significant interest from both domestic and global investors, bolstered by its consistent performance and inclusion in global indices.
With its robust fundamentals and strong market presence, the stock remains a key player in the Indian banking sector.