HDFC Asset Management Gains 8.01%: 5 Key Factors Driving This Week’s Momentum

2 February: Bearish Technical Shift Amid Mixed Momentum

HDFC AMC began the week under pressure, closing at ₹2,569.40, up 2.05% on the day but following a recent technical deterioration. Earlier, the stock had faced a bearish momentum shift with daily moving averages turning negative and the MACD indicator signalling bearish trends on weekly charts. Despite this, the stock remained comfortably above its 52-week low of ₹1,762.53 and well below its 52-week high of ₹2,965.00, indicating room for recovery. The Sensex, in contrast, declined 1.03% that day, highlighting HDFC AMC’s relative resilience amid broader market volatility.

3 February: Strong Gap Up and Intraday High Reflect Positive Sentiment

On 3 February, HDFC AMC opened with a significant gap up of 5.48%, reflecting renewed investor optimism. The stock surged to an intraday high of ₹2,775, an 8.0% increase from the previous close, before settling at ₹2,667.00, a 3.80% gain on the day. This performance outpaced the Finance/NBFC sector’s 3.28% rise and the Sensex’s 2.63% gain, underscoring the stock’s leadership within its sector. Technical indicators showed the stock trading above all key moving averages, signalling strong momentum. However, mixed signals from oscillators such as MACD and RSI suggested caution, with some weekly indicators remaining bearish despite the positive price action. The stock’s adjusted beta of 1.41 confirmed its high volatility relative to the market.

4 February: Sharp Open Interest Surge Signals Growing Market Participation

HDFC AMC’s derivatives market saw a sharp 13.11% increase in open interest on 4 February, rising from 29,764 to 33,667 contracts. This surge accompanied a strong price rally, with the stock closing at ₹2,724.75, up 2.17% on the day. Futures volume was robust at 17,008 contracts, and the combined futures and options notional value exceeded ₹8,900 crores, indicating significant capital flow and risk appetite. Delivery volumes also rose sharply by 79.59% compared to the five-day average, suggesting genuine investor participation rather than speculative trading. The stock’s sustained gains over three days, totalling 11.14%, and its position above all major moving averages confirmed a strong technical uptrend. Despite this, the Mojo Score remained at 55.0 with a Hold rating, reflecting cautious analyst sentiment amid the rally.

5 February: Continued Gains Amid Mixed Market Signals

On 5 February, HDFC AMC extended its winning streak, closing at ₹2,761.25, a 1.34% gain. The stock’s performance contrasted with the Sensex’s 0.53% decline, further highlighting its relative strength. Technical indicators remained mixed; while daily moving averages were bullish, weekly MACD and KST oscillators continued to signal caution. The stock’s trading volumes peaked at 387,625 shares, the highest for the week, supporting the price advance. This day’s gains contributed to a cumulative 14.3% return over four trading sessions, underscoring strong momentum despite some technical reservations.

6 February: Week Closes with Minor Correction but Strong Weekly Gains

HDFC AMC ended the week at ₹2,719.55, down 1.51% on the day, reflecting a mild profit-taking phase after several days of gains. The Sensex closed marginally higher by 0.10%, indicating a relatively stable market environment. Despite the slight dip, the stock’s weekly gain of 8.01% far outpaced the Sensex’s 1.51% rise, confirming strong relative performance. Trading volumes dropped sharply to 26,217 shares, suggesting reduced participation on the final trading day. Technical indicators remain mixed, with daily moving averages showing some short-term weakness but longer-term monthly indicators maintaining a mildly bullish stance. The stock’s Mojo Grade remains at Hold, reflecting a balanced view of the recent momentum and underlying risks.

Key Takeaways

Strong Outperformance: HDFC AMC’s 8.01% weekly gain significantly outpaced the Sensex’s 1.51%, highlighting robust investor demand and sector leadership.

Technical Momentum Mixed but Improving: Despite early bearish technical signals, the stock’s sustained gains above key moving averages and rising open interest suggest strengthening momentum, though some oscillators remain cautious.

Derivatives Market Activity: A 13.1% surge in open interest and high notional values in futures and options indicate growing market participation and directional bets on further upside.

Volume and Liquidity: Elevated delivery volumes and strong trading activity support the price rally, reflecting genuine investor interest rather than speculative spikes.

Rating and Outlook: The Mojo Score of 55.0 and Hold rating reflect a balanced view, acknowledging strong price action tempered by technical caution and valuation considerations.

Conclusion

HDFC Asset Management Company Ltd demonstrated a compelling performance during the week of 2–6 February 2026, with an 8.01% price appreciation that outshone the broader market. The stock’s journey from a bearish technical backdrop to a strong rally supported by rising open interest and sustained volume underscores a dynamic market environment. While some technical indicators advise caution, the overall momentum and market participation suggest that HDFC AMC remains a key player within the capital markets sector. Investors should continue to monitor technical signals and derivatives activity closely to gauge the sustainability of this uptrend amid evolving market conditions.

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