ICICI Bank Ltd. Sees High-Value Trading Amid Mixed Market Sentiment

Robust Trading Volumes Highlight Market Interest

ICICI Bank Ltd. (NSE: ICICIBANK) emerged as one of the most actively traded stocks by value on the trading session dated 29 Jan 2026. The stock recorded a total traded volume of 23,34,987 shares, translating into a substantial traded value of ₹31,686.7 lakhs (₹316.87 crore). This level of liquidity underscores the stock’s appeal among institutional and retail investors alike, providing ample scope for sizeable trade executions without significant price impact.

The stock opened at ₹1,359.0 and traded within a narrow intraday range of ₹7.9, with a day’s high of ₹1,363.1 and a low of ₹1,354.4. The last traded price (LTP) stood at ₹1,356.2 as of 09:45 IST, reflecting a modest decline of 0.87% from the previous close of ₹1,367.7.

Price Performance and Technical Indicators

ICICI Bank’s price performance on the day lagged behind its sector benchmark, underperforming the Private Sector Bank sector by 0.35%. The stock also fell after two consecutive days of gains, signalling a potential short-term trend reversal. Technical analysis reveals that while the stock price remains above its 5-day moving average, it continues to trade below its 20-day, 50-day, 100-day, and 200-day moving averages. This mixed technical picture suggests that while short-term momentum may be positive, medium- to long-term trends remain under pressure.

Investor participation, as measured by delivery volume, has shown signs of weakening. On 28 Jan 2026, the delivery volume was recorded at 1.06 crore shares, marking a 6.46% decline compared to the five-day average delivery volume. This drop in delivery volume may indicate reduced conviction among investors holding the stock for the longer term, potentially signalling caution ahead.

Institutional Interest and Market Capitalisation

ICICI Bank’s market capitalisation stands at a commanding ₹9,78,029 crore, categorising it firmly as a large-cap stock. The company’s Mojo Score, a proprietary metric assessing stock quality and momentum, currently reads 54.0, with a Mojo Grade upgraded to ‘Hold’ from a previous ‘Sell’ rating as of 05 Jan 2026. This upgrade reflects an improvement in the stock’s fundamentals and technical outlook, though it remains a cautious recommendation rather than a strong endorsement.

The bank’s Market Cap Grade is rated at 1, indicating its significant size and influence within the private sector banking space. Despite the recent downgrade in daily returns (-0.91%) relative to the sector (-0.57%) and Sensex (-0.48%), ICICI Bank remains a key bellwether for investor sentiment in the financial services sector.

Liquidity and Trading Dynamics

Liquidity metrics confirm that ICICI Bank is sufficiently liquid to accommodate large trade sizes, with the stock’s traded value representing approximately 2% of its five-day average traded value. This translates into a comfortable trade size capacity of ₹51.12 crore, making it attractive for institutional investors seeking to deploy or exit sizeable positions without excessive market impact.

However, the narrowing trading range and declining delivery volumes suggest that while the stock remains actively traded, investor enthusiasm may be tempered by broader market uncertainties or profit-booking pressures after recent gains.

Outlook and Investor Considerations

ICICI Bank’s recent upgrade from ‘Sell’ to ‘Hold’ by MarketsMOJO reflects a cautious optimism about the stock’s near-term prospects. The bank’s strong market capitalisation and liquidity profile make it a staple in many institutional portfolios. However, the current technical setup, characterised by resistance at longer-term moving averages and a recent dip in delivery volumes, suggests that investors should monitor price action closely before committing fresh capital.

Given the stock’s underperformance relative to its sector and the broader Sensex on 29 Jan 2026, investors may want to weigh alternative opportunities within the private banking space or other sectors with more favourable momentum and fundamental outlooks.

Overall, ICICI Bank remains a significant player with robust trading activity, but the mixed signals warrant a balanced approach, favouring selective accumulation rather than aggressive buying at this juncture.

Sector and Market Context

The private sector banking sector has experienced moderate volatility in recent sessions, influenced by macroeconomic factors such as interest rate expectations, credit growth trends, and regulatory developments. ICICI Bank’s performance is often viewed as a proxy for the sector’s health, and its recent trading patterns may reflect broader investor caution amid evolving economic conditions.

Comparatively, the Sensex’s modest decline of 0.48% on the day indicates a broadly cautious market environment, with investors digesting mixed earnings reports and geopolitical developments. In this context, ICICI Bank’s high-value trading activity underscores its continued relevance but also highlights the need for investors to remain vigilant and responsive to market signals.

Summary of Key Metrics

To recap, ICICI Bank Ltd.’s key trading and financial metrics as of 29 Jan 2026 are:

• Total traded volume: 23,34,987 shares


• Total traded value: ₹31,686.7 lakhs (₹316.87 crore)


• Previous close: ₹1,367.7


• Opening price: ₹1,359.0


• Day high/low: ₹1,363.1 / ₹1,354.4


• Last traded price: ₹1,356.2


• Day change: -0.87%


• 1-day return: -0.91% (vs sector -0.57%, Sensex -0.48%)


• Mojo Score: 54.0 (Grade upgraded to Hold from Sell on 05 Jan 2026)


• Market cap: ₹9,78,029 crore (Large Cap)


• Liquidity: Trade size capacity of ₹51.12 crore based on 2% of 5-day average traded value

These figures highlight the stock’s prominence in the market and the nuanced investor sentiment shaping its price action.

Conclusion

ICICI Bank Ltd. continues to command significant attention in the equity markets, evidenced by its high-value turnover and active trading volumes. While the recent upgrade in Mojo Grade to ‘Hold’ signals improving fundamentals, the stock’s underperformance relative to sector peers and the broader market, coupled with technical resistance and declining delivery volumes, suggest a cautious stance is warranted.

Investors should consider these factors carefully, balancing ICICI Bank’s strong market position and liquidity against the current mixed signals. Monitoring evolving market conditions and comparing alternatives within the private sector banking space may provide better risk-adjusted opportunities in the near term.

Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →