BUZZ-India's HDFC Bank surges to record high; RBI allows foreign investors to resume buying

Last Updated: Fri, Feb 17, 2017 09:40 hrs

** Shares of HDFC Bank Ltd gain as much as 9.5 pct to a record high of 1,454 rupees

** India's central bank on Thursday allowed foreign investors to resume buying in HDFC Bank after foreign holding in bank fell below maximum limit of 74 percent

** Nearly 20 mln shares change hands in the first five minutes after the bell, about 14 times the 30-day moving average

** Nifty Private Bank index rises 2.95 pct

** Nifty Bank Index and Nifty Financial Services index touch record high

** "Depending upon foreign interest, the foreign ownership can go up fairly quickly given the likely low FII headroom," Morgan Stanley analysts say in a note on HDFC Bank

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