Money on the markets

A maturing market amid the mayhem

HDFC Bank shares at all-time high

August 19, 2010

HDFC Bank, India’s second-largest private bank, rose as much as 2.4
percent to an all-time high of 2,240 rupees during trade on Thursday,
before closing 1.95 percent higher.

It was a good day for financial stocks overall, which rose on the back of rising FII inflows who have been lured by 8.5 percent economic growth forecast this year.

ICICI Bank climbed as much as 4.6 percent during trade to touch its
highest in 29 months, while SBI bucked the trend and ended marginally
lower.

The banking index has gained a whopping 17.3 percent return since July.
Would you invest in a banking stock at this stage?

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