HDFC Bank shares fall 8% Rs 100,000 crore cleared in one stroke, know the reason

Fall in HDFC Bank Shares: Amid the market's daylong drop, investors in HDFC Bank have been particularly hurt. The company's shares actually fell more than 8%, reaching a low of Rs 1528.

It turned out that Wednesday was a terrible day for stock market investors. The Nifty fell more than 450 points, while the Sensex fell more than 1600 points. More than Rs 4 lakh crore of investors were cleared amidst this market tremor. The biggest private sector bank in the nation, HDFC Bank, was hardest hit since it suddenly cleared more than five times its revenue in just three months. Tell us how, please.

HDFC Bank shares fall 8% Rs 100,000 crore cleared in one stroke, know the reason

The Bombay Stock Exchange's 30-share Sensex opened at 71,988, fell at 9.15 am, and closed at 71,500.76, or 2.23 percent lower than when it opened. The Sensex broke more than 1600 points. First, let's discuss the turmoil in the stock market, also known as the Share Market Crash. Nevertheless, the Nifty of the National Stock Exchange dropped by 460.35 points to close at 21,571.95 at this point. The significant decline in the stock market allowed investors' assets above Rs 4 lakh crore to be cleared.

Among a string of daylong drops in the bank's stock market at the low point of Rs 1528, investors in HDFC Bank have suffered the most. In actuality, the company's stock fell by over 8%. HDFC Bank's stock saw a steep decrease in the final hour of trade, plunging 8.57% to Rs 1535 on the BSE. Throughout the day, HDFC shares were trading on the red mark. It began trading at Rs 1570 at 9.15 am and dropped as low as Rs 1528. Investors in the bank, HDFC Bank Investors, have lost Rs 100,000 crore as a result of this decline in the firm's shares.

Gained in three months, lost in a single stroke The company released its really impressive December quarter results on Tuesday, which makes the decrease in HDFC Bank shares all the more shocking. According to HDFC Bank's Q3 results, the bank's net profit rose by 34% during the December quarter. As a result, in just three months, HDFC Bank made a profit of Rs 16,372 crore. In contrast, during the course of the same day's trading, the company's market capitalization (HDFC Bank MCap) dropped by Rs 100,000 crore.

The market capitalization of HDFC Bank dropped to Rs 11.68 lakh crore on Wednesday from Rs 12,74,740.22 crore on Tuesday. As a result, the company's worth dropped by Rs 106740.22 crore in a single day.

The Bank Nifty dropped by 2000 points. The Bank Nifty dropped by 2000 points, or 4.22 percent, on Wednesday. In terms of falling stocks, Indian Energy Exchange's stock dropped by almost 10% to Rs 147.85 per share, excluding HDFC Bank. Zomato, an online meal delivery service, dropped 4.46% to Rs 127.60 per share, while Finonex Industries saw a 3.82% decline.

(Note: Please speak with your market specialists before making any stock market investments.)