HDFC Bank Ltd.'s shares on Monday witnessed delivery-based buying of Rs 31,135 crore as part of MSCI rebalancing, sending the stock to a record high. The private lender saw the highest delivery of more than 81% of the total traded volume in today's session.
The bank recorded a delivery volume of 17.4 crore shares, with a delivery percentage of more than 81.06%. The total volume turnover stood at Rs 38,409 crore, of which the delivery turnover contributed Rs 31,135 crore.
The shares of HDFC Bank hit an all-time-high intraday, gaining 2.3%. It closed 1.9% higher at Rs 1,778.95 apiece, compared to 1.3% advanced benchmark in Nifty 50.
A net inflow of around $2.5 billion in foreign passive flows was expected as the quarterly rejig in the MSCI indices is slated to occur today.
The November round of MSCI indices rejig may lead to a boost in HDFC Bank's weightage in the Global Standard Index, according to Nuvama Alternative and Quantitative Research.
HDFC Bank will attract inflows amounting to $1.88 billion, Nuvama said in a report released on Nov. 5. The private lender is included under the MSCI.
The bank gained Rs 25,441 crore in market capitalisation on Monday to reach an over market capitalisation of Rs 13.57 lakh crore.
Meanwhile, BSE Ltd. recorded a second highest delivery turnover of Rs 2,928 crore.
The BSE recorded a delivery volume of 62.48 lakh shares, with a delivery percentage of 51%. The total volume turnover stood at Rs 5,756 crore, of which the delivery turnover contributed Rs 2,928 crore.
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