HDFC Bank share price jumps over 3% to 52-week high

HDFC Bank’s share price jumped more than 3% to a new high in early trade on Wednesday on expectations of high passive fund inflows amid a probable increase in the MSCI index’s weight. On the NSE, HDFC Bank shares increased by as much as 3.66% to reach a new high of ₹1,794.00 a share.

The most recent HDFC Bank shareholding pattern indicates that foreign institutional investors’ (FIIs) ownership in the bank dropped below 55%, which is projected to increase the stock’s weightage in the MSCI index, resulting in higher passive inflows.

As of June 2024, the FII ownership in HDFC Bank is 54.8%, according to data from the BSE.

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