Foreign passive funds could sell about $200m worth of HDFC Bank after its merger with HDFC, with overseas investors likely having invested nearly $3bn in the merged entity, prior to the current calculation. HDFC shares slid 5.6% to INR2,701.15 ($35.87) while HDFC Bank shares fell 5.9% closing at INR1,625.35, their highest single-day decline since May 2020. HDFC Bank will be added to the large-cap segment of MSCI Global Standard Indexes following an adjustment factor of 0.5, MSCI said. HDFC Bank is subject to a foreign ownership limit of 74%, with the foreign headroom in relation to the merged entity now at 18.23%.