In the present work, dynamic stress-strain response of compact basalt is tested under high loading rates using 38 mm split Hopkinson pressure bar (SHPB) device. The physical and static mechanical properties of compact basalt e.g. density, specific gravity, static compressive strength and elastic modulus values are also determined. Petrological studies of compact basalt are carried out through X-ray diffraction (XRD) test and scanning electron microscope (SEM) test. In the SHPB tests, it is observed from the stress-strain response that the dynamic peak stress increases with increasing strain rate however the elastic modulus is nearly constant with increase in strain rate. Dynamic force equilibrium at the incident and transmission bar ends of the rock samples is attained in all tests till the failure of the rock samples. Dynamic increase factor (DIF) for the rock is determined at a particular strain rate by comparing the dynamic to static peak compressive stress. Correlation equation for dynamic strength increase factor with respect to strain rate has been proposed herein.