HDFC Bank stock gains as options activity intensifies near 52-week low zone

Published on 09/18/2026 at 10:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HDFC Bank stock rose about 1 percent to around INR 721 on September 18, 2026 amid heavy trading and active options positioning near recent lows. The move comes as investors weigh the bank’s valuation after a sharp one-year decline and recent results.

HDFC Bank, INE040A01034, Illustration mit AI erstellt.

HDFC Bank stock (ISIN INE040A01034) traded around INR 721 on the National Stock Exchange of India on September 18, 2026, up a little over 1 percent from the prior close near INR 713 and moving away from its recent 52-week low of INR 681.90 reached on September 11, 2026.

Stock rebounds from recent lows

According to The Hindu Business Line on September 18, 2026, HDFC Bank shares touched an intraday high of INR 722.85 after opening largely flat at INR 715.25, with the last traded price quoted around INR 721 at 10:32 a.m. IST.

The same report noted that the stock had hit a 52-week low of INR 681.90 on September 11, 2026, meaning the price on September 18, 2026 was roughly 5.7 percent above that low while still far below the 52-week high of INR 1,020.50 recorded on October 23, 2025, as highlighted by TradingView.

Heavy trading and options positioning

Per live data in a share price overview from The Economic Times at 10:34 a.m. IST on September 18, 2026, the last traded price stood at INR 721.05, with a market capitalization of about INR 11,11,667.82 crore and volume around 4,751,621 shares, underscoring strong investor activity around the rebound.

Trading analysis from MarketsMojo on September 18, 2026 reported that HDFC Bank closed at INR 718.20, up 1.15 percent from the previous close of INR 713.00, after trading in a narrow intraday range between an open of INR 715.25 and a day high of INR 720.80.

The same MarketsMojo overview indicated that the stock’s one-day return of 0.85 percent outpaced the private sector banking sector’s gain of 0.42 percent and the Sensex’s rise of 0.16 percent on September 18, 2026, suggesting relative strength even as the share price remains well below longer-term highs.

Derivatives data published by MarketsMojo on September 18, 2026 highlighted more than 17,000 put contracts traded across strikes INR 690 to INR 720 while the underlying stock hovered near INR 718.50, up 1.15 percent on the day.

According to the same MarketsMojo options report, the most active put strikes were INR 700, INR 710, INR 720 and INR 690, with turnover above INR 6.3 crore and delivery volumes on September 17, 2026 of about 1.5 crore shares, down 23.83 percent versus the five-day average, pointing to hedging or speculative positioning around the recent bounce.

A companion options analysis from MarketsMojo on September 18, 2026 noted that 12,388 call contracts at the INR 720 strike traded with the stock closing at INR 718.50, a pattern that suggests at-the-money calls are being used to express short-term directional views ahead of the September 29, 2026 expiry.

Valuation, recent performance and fundamentals

The Hindu Business Line’s market snapshot on September 18, 2026 pointed out that HDFC Bank’s adjusted price-to-earnings ratio stood around 13.72, while The Economic Times live blog showed an earnings per share figure of INR 51.3, implying that investors are paying just under 14 times trailing earnings for India’s largest private sector lender at the current price level.

In the same Hindu Business Line report on September 18, 2026, HDFC Bank’s one-week absolute return was cited at 1.87 percent, while the stock had declined about 0.21 percent over the month and suffered a 27.21 percent drop year to date, highlighting how the recent rebound still leaves the stock materially below its levels at the start of 2026.

Sector commentary on Nifty Bank performance from TradingView on September 17, 2026 noted that HDFC Bank shares were trading around INR 715.10 with a market capitalization of roughly INR 11,01,728.45 crore and had delivered a 3 percent return over the prior week but a 26 percent decline over one year.

The same TradingView analysis emphasized that HDFC Bank stock was hovering close to a technical support zone in the INR 684 to INR 636 range, a level from which buyers had previously emerged, suggesting that the current rebound could be an early attempt to defend that longer-term support after the recent 52-week low.

While the latest full quarterly or half-year financial figures are not detailed in the past-week coverage, the relatively modest price-to-earnings multiple and large market capitalization above INR 11 trillion as reported by The Economic Times on September 18, 2026 indicate that the bank remains a heavyweight in Indian equities, with valuation now reflecting the one-year drawdown.

Analyst views and near-term risk factors

The options commentary from MarketsMojo on September 18, 2026 described a recent upgrade of HDFC Bank’s internal mojo grade to Hold, suggesting that improving fundamentals are being weighed against technical consolidation and risk appetite, even though traditional sell-side analyst target changes were not highlighted in that specific piece.

Technical commentary cited by TradingView on September 17, 2026 referenced views from Kunal Kamble, a senior technical research analyst at Bonanza, who argued that HDFC Bank had reached an attractive level but recommended waiting for a close above INR 735 to accumulate, implying that the current price still sits below the trigger level that would signal stronger upside momentum.

MarketsMojo’s options report on September 18, 2026 warned that the decline in delivery volume of about 23.83 percent versus the five-day average on September 17, 2026 means that the recent price gains may not yet be fully supported by long-term investors, a factor that could increase short-term volatility if option positions amplify moves around the September 29, 2026 expiry.

At the same time, broader market coverage from outlets such as Equitymaster on September 18, 2026 indicated that HDFC Bank was among the top gainers in the main indices during the morning session as the Sensex traded higher and the Nifty index hovered above 23,300, showing that the stock’s rebound was part of a wider positive tone in Indian banking shares.

HDFC Bank stock and investor takeaway

Based on live data around mid-morning on September 18, 2026, HDFC Bank stock can be described as trading near INR 721 on the NSE, roughly 1 percent above the prior close and several percent above the 52-week low of INR 681.90 set on September 11, 2026, yet still trading significantly below the 52-week high of INR 1,020.50 from October 23, 2025.