Strong purchasing momentum caused HDFC Bank's share price to rise more than 1% on Tuesday, setting a new record high. The price of HDFC Bank's shares on the NSE increased 1.8% from the previous close to reach its all-time high of INR 1,837.40 per share.

With today's share price advances, HDFC Bank's market capitalization regained the INR 14 lakh crore level.

On Tuesday, December 3, a block sale of 21.7 lakh HDFC Bank shares occurred, according to Bloomberg statistics. There are no buyers or sellers listed in the HDFC Bank share block deal details. However, the overall value of the HDFC Bank block deal would be around ₹392 crore based on the previous closing price of INR 1,804.70 per share.                                                                                         

Due to significant profit-taking in the wider markets, HDFC Bank's market capitalization fell below the INR 14 lakh crore threshold after reaching INR 14.01 lakh crore on November 28.

Trend of HDFC Bank's Stock Price

The price of HDFC Bank's stock has increased by more than 5% in a single month and more than 12% in three. The biggest private sector bank in India has seen its stock rise by more than 7% year-to-date (YTD) and by about 18% in a single year.

MSCI Rejig

The MSCI rebalancing, which went into effect at the end of November, was another factor contributing to the recent increases in HDFC Bank shares. In its most recent rebalancing, HDFC Bank's weight in the MSCI Emerging Markets (EM) Index grew, drawing in an estimated USD 1.9 billion in passive inflows.

This change is the second stage of a projected weighting increase that was first described in the August 2024 MSCI review. HDFC Bank shares were up 1.68% at ₹1,834.90 per on the BSE at 11:20 AM.