Benchmark indices settle near 5-month high; HDFC Bank up 3.6%

HDFC Bank pared gains to end 3.6% higher after the RBI put the bank back in its FII bank list

Benchmark indices settled the day higher, gaining for the fourth straight week driven by financials even after RBI put HDFC Bank back in the FII ban list.
 
The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs. It had allowed allowed foreign investors to resume buying in the private bank earlier.
 
Nifty50 rose as much as 1.3% during the early morning trade led by HDFC Bank after it gained 9.5% to a record high of Rs