Uti Sales Bring Down Hdfc Scrip

Those who think that the Housing Development Finance Corporation (HDFC) stock is losing its sheen as its supremacy is being threatened by banks on the home loan turf should think again.

The Unit Trust of India's (UTI) sale of the HDFC stock is responsible for pulling its price down. The stock hit a 52 week low of Rs 555 on Monday. However, today the stock closed marginally (1.46 per cent) higher at Rs 571.05 on bottom fishing.

Between February 1, 2002 and August 23, the UTI sold about 42 lakh HDFC shares. In percentage terms, UTI