Shares of India's largest bank by market capitalisation and second-largest bank by asset size HDFC Bank saw its sharpest intraday decline in the last six weeks after touching the all-time high on Monday. We also take a look at 35 other stocks which hit their respective 52-week highs today.
Shares of India’s largest bank by market capitalisation and second-largest bank by asset size HDFC Bank saw its sharpest intraday decline in the last six weeks after touching the all-time high on Monday. Shares of 35 other companies hit their respective 52-week highs while the benchmark BSE Sensex hovered in the negative territory. The stock of HDFC Bank surged massively in the opening bell to hit the 52-week high of Rs 2,170.05, however, the stock didn’t manage to hold the uptick and reversed all the gains within minutes. Indian share market followed the similar suite with Sensex plunging nearly 140 points after a 300-point plus gain.
In the morning trades, BSE Sensex shot up 328.33 points to a day’s top of Rs 35,555.59 as shares of HDFC Bank surged 2.87% to a 52-week high of Rs 2,170.05 on BSE. Interestingly, this was also the all-time high price for HDFC Bank share. But very soon after touching the lifetime peak, HDFC Bank share price dropped 2.49% to a day’s low of Rs 2,058 on BSE. This was the biggest intraday decline in the HDFC Bank shares since 23 April 2018.
HDFC Bank shares were the biggest losers among the top five laggards of BSE Sensex on Monday. On the dealing counters, heavy trading was observed in the shares of HDFC Bank which steered the stock to lead the turnovers among all the listed companies on NSE. As at 2 pm, more than Rs 3,970 crore worth of trade was executed in shares of HDFC Bank with about 1.88 crore equity shares being traded on NSE alone.
35 other shares that hit 52-week highs today:
|Stock||52-week high (Rs)|
|Bio Green Paper||3.75|
|Bombay Oxygen Corp||7992.75|
|Capital India Finance||151.45|
|RMG Alloy Steel||26.75|
|Shalimar Wires Industries||33.65|
|TRC Financial Services||29.90|