HDFC, HDFC Bank rally on hopes ahead of MSCI review

Reuters Market Eye - Housing Development Finance Corp and HDFC Bank Ltd shares surge on speculation they may benefit from an upcoming rebalancing of global indexes by MSCI.

Traders cite speculation the two could see their weightages increase.

MSCI's August Quarterly index review announcement is scheduled for Aug. 13.

HDFC gains 5 percent, while HDFC Bank is up 1.8 percent.

(Reporting by Abhishek Vishnoi)