HDFC Bank replaces ICICI as most valued pvt sector bank

Private sector lender HDFC Bank today toppled ICICI Bank as the country's most valued private sector bank, after its shares surged over six per cent on the Bombay Stock Exchange.

The market capitalisation of ICICI Bank, the top private sector lender in terms of asset size, today fell to Rs 39,516.58 crore against Rs 40,001 crore of rival HDFC Bank.

At the end of the trade today, the shares of HDFC Bank settled up 6.31 per cent at Rs 940.50 on BSE. During the day the scrip had surged 10.09 per cent to Rs 973.90.

In comparison, ICICI Bank gained 2.44 per cent at Rs 355.10. In the intra-day trade, the scrip had surged 7.69 per cent to a high of Rs 373.30 on BSE.

Overall, ICICI Bank moved down to 18th position in terms of market cap, against a place among the top-10 companies till last year.

At the end of Friday's trading, the country's biggest state-run lender State Bank of India's market cap stood at Rs 65,697.02 crore after its shares rose by 1.09 per cent to close at Rs 1,034.65.

The banking sector stocks today witnessed a surge following positive global cues with HDFC Bank emerging as the biggest gainer among all the blue-chip stocks.