2 days ago
HDFC Bank Trading Slumps to Six-Month Low as Funds Buy
HDFC Bank shares were traded less often in August than they had been in the previous six months.
About three crore shares changed hands during the month.
However, some large investment funds kept buying the stock.
Their purchases were worth about ₹13,530 crore.
This means fund managers were interested in owning more HDFC Bank shares.
The article does not explain exactly why they bought them.
The lower trading volume and continued fund buying happened at the same time.
Bloomberg compiled the data.
HDFC Bank trading volumes may have fallen to a six-month low in August.
About three crore HDFC Bank shares were traded during the month.
Fund managers continued accumulating HDFC Bank stock despite lower trading volumes.
Funds bought shares worth around ₹13,530 crore in August.
The figures were compiled by Bloomberg.
- Who
- HDFC Bank and fund managers or select investment funds.
- What
- HDFC Bank trading volumes fell to a possible six-month low while funds bought shares worth around ₹13,530 crore.
- Where
- The HDFC Bank stock-trading counter.
- When
- August.
- Why
- Fund managers continued buying the stock despite lower trading volumes; the article gives no further reason.
Key facts
- Company
- HDFC Bank
- Month
- August
- Trading volume
- About three crore shares
- Trading-volume comparison
- A possible six-month low
- Fund purchases
- Around ₹13,530 crore
- Data source
- Bloomberg
Sources
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