HDFC Bank shares shed early gains to close marginally lower on bourses

NEW DELHI: After giving up morning gains, shares of the country’s leading private sector lender HDFC Bank closed marginally lower on the bourses on Wednesday.

The shares jumped nearly two per cent in early trade after the Reserve Bank’s decision to allow the lender to issue new credit cards but the momentum could not be sustained, with the scrip ending marginally lower compared to Tuesday’s closing level on the BSE and NSE.

It ended the day at Rs 1,512.90 apiece on the BSE.

After opening at Rs 1,550, the scrip touched an intra-day high of Rs 1,564.75 and an intra-day low of Rs 1,508.45.

On the NSE too, shares of the lender shed early gains to close slightly down at Rs 1,511.50 apiece.

It had touched an intra-day high of Rs 1,565.35 after opening at Rs 1,556.70.

The intra-day low level was Rs 1,508.35.

In a regulatory filing on Wednesday, HDFC Bank said the Reserve Bank of India (RBI), through its letter dated August 17, has relaxed the restriction placed on sourcing of new credit cards.

The central bank had issued orders in December and February to HDFC Bank on certain incidents of outages in the internet banking /mobile banking/ payment utilities of the bank over the past two years.

HDFC Bank also said the restrictions on all new launches of the digital business generating activities planned under Digital 2.0 will continue till further review by the RBI.

Snapping its four-session record-setting spree, the 30-share benchmark BSE Sensex on Wednesday closed 162.78 points or 0.29 per cent lower at 55,629.49.

It touched its all-time peak of 56,118.57 during the session.