As news of merger broke this morning, shares of both HDFC and HDFC Bank rallied up to 12 percent on the exchanges
Domestics benchmark indices BSE Sensex and NSE Nifty 50 zoomed over 2 percent on Monday, 4 April, after investors were buoyed by the HDFC-HDFC Bank merger announcement. While Sensex zoomed 2.25 percent to 60,611.74, Nifty ended above 18,000 levels for the first time since 18 January.
As news of the merger broke this morning, shares of both HDFC and HDFC Bank rallied up to 12 percent on the exchanges. BSE Midcap and Smallcap indices also jumped over 1 percent. India VIX slid to 17.91 levels. All sectors ended in green, with financial services and banking surging over 4 percent.
Bombay Stock Exchange (BSE):
BSE Sensex surged 1,335.05 points or 2.25 percent to 60,611.74. The top gainers were HDFC Bank, HDFC, Kotak Bank, Hindustan Unilever and Larsen and Toubro (L&T). Infosys and Titan were the only laggards.
Top BSE gainers:
HDFC Bank: The shares vaulted to Rs 1,656.45, up by 9.97 percent
HDFC: The value of the company surged 9.30 percent to Rs 2,678.90
Kotak Bank: The company rose 3.32 percent to Rs 1,835.65
Hindustan Unilever: The shares gained to Rs 2,127.05, rising by 2.24 percent
L&T: The company’s value ended 1.95 percent higher at Rs 1,825.35
Top BSE losers:
Infosys: The shares fell 1.05 percent to Rs 1,882.45
Titan: The value of the company declined 0.20 percent to Rs 2,516.50
National Stock Exchange (NSE):
NSE Nifty 50 surged to 18,053.40, up by 2.17 percent or 382.95 points. Bank Nifty zoomed 4.00 percent to 38,635.20.
Top NSE gainers:
HDFC Bank: The value of the company surged to Rs 1,654.10, up by 9.83 percent
HDFC: The shares zoomed 9.12 percent to end at Rs 2,676.00
Adani Ports: With a gain of 4.10 percent, the shares rose to Rs 818.00
HDFC Life: The shares closed the day 3.72 percent higher at Rs 570.85
Kotak Bank: The company’s value reached Rs 1,834.40, up by 3.25 percent at the end of the session
Top NSE losers:
Infosys: The shares fell 1.13 percent to Rs 1,882.00
Tata Consumer Products Limited: The value of the company settled 0.35 percent lower at Rs 787.00
Titan: The shares declined to Rs 2,514.95, down by 0.23 percent
JSW Steel: The company’s value dipped 0.12 percent to Rs 731.35