HDFC Bank shares drop 4%; Nifty Bank slumps as entire banking pack falls
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Shares of HDFC Bank came under sharp selling pressure on Monday, falling as much as 4.33% to an intraday low of Rs 821.50 on the NSE, as escalating geopolitical tensions involving Iran, Israel and the United States rattled global markets over the weekend. This marks the second consecutive trading session of losses for HDFC Bank shares. Over the past two days, the stock has declined nearly 6%, mirroring the broader weakness in financial stocks amid global uncertainty. The broader banking pack also witnessed heavy selling. The Nifty Bank index declined over 4%, with all 14 banking stocks trading deep in the red, reflecting widespread risk-off sentiment among investors. HDFC Bank stock down 20% from its 52-week high HDFC Bank shares are now trading about 20% below their 52-week high of Rs 1,020.50. At current levels, the lender commands a market capitalisation of roughly Rs 12.78 lakh crore, maintaining its position among India’s largest com...