Shares in the two firms fell sharply after the block deal.
HSBC sold 4.75 per cent stake or 2.05 crore shares in Axis Bank through four block deals. Over 22 million shares had changed hands in the company on the BSE by 11.10 a.m. The stock traded 3 per cent lower at Rs 970.30 on the BSE.
HSBC got a better response in the Yes Bank block deal, where it sold 4.75 per cent stake totalling 1.67 crore shares. The stock slipped 2 per cent to Rs 328 on the NSE. Over 21 million shares had changed hands in the firm on the NSE by 11.10 a.m.