HDFC Bank Powers Sensex to Historic Highs

HDFC Bank's shares surged over 2%, adding significant value to its market capitalization and boosting the BSE Sensex to record levels. Key factors include a potential increase in MSCI index weightage, which could bring substantial international inflows. Other major banks also experienced gains.

HDFC Bank shares saw heavy demand on Wednesday, surging over 2% and adding Rs 28,758.71 crore to its market valuation.

The stock climbed 2.18% to settle at Rs 1,768.35 apiece on the BSE. During the day, it hit a 52-week high at Rs 1,791.90.

The rally was fueled by a potential rise in the bank's weightage in the MSCI emerging markets index, as highlighted by Senior VP (Research) Prashanth Tapse at Mehta Equities Ltd. This could bring inflows of $3.2 to $4 billion.

HDFC Bank significantly contributed to the BSE Sensex's historic surge to the 80,000 mark, adding 249.03 points to the index's rally.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)