ICICI Bank Ltd. Sees High-Value Trading Amidst Continued Downtrend

Robust Trading Volumes and Value Highlight Market Attention

On 19 Jan 2026, ICICI Bank’s shares traded at a volume of 53,56,464 shares, translating into a substantial traded value of ₹73,790.65 lakhs (₹737.9 crores). This high-value turnover places ICICI Bank among the most actively traded equities by value on the day, underscoring strong investor participation despite the stock’s downward price movement. The stock opened at ₹1,399.90 and touched an intraday high of ₹1,400.00 before sliding to a low of ₹1,364.30, eventually settling at ₹1,370.70 as of 09:44:46 IST.

Price Performance and Moving Averages Signal Weakness

ICICI Bank’s share price underperformed its sector by 2.46% and the broader Sensex by 2.37% on the day, registering a 1-day return of -2.89% compared to the sector’s -0.87% and Sensex’s -0.52%. The stock has been on a consecutive three-day decline, cumulatively falling 4.75%, reflecting a deteriorating short-term trend. Notably, the stock is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling sustained bearish momentum and technical weakness.

Institutional Interest and Delivery Volumes

Investor participation remains elevated, with delivery volumes reaching 89.12 lakhs shares on 16 Jan 2026, marginally up by 0.01% against the 5-day average delivery volume. This suggests that despite the price decline, institutional investors and long-term holders continue to engage actively, possibly accumulating at lower levels or repositioning portfolios. The stock’s liquidity is robust, with the capacity to handle trade sizes up to ₹37.75 crores based on 2% of the 5-day average traded value, facilitating large order flows without significant price disruption.

Mojo Score Upgrade Reflects Improving Fundamentals

MarketsMOJO’s proprietary analysis upgraded ICICI Bank’s Mojo Grade from Sell to Hold on 05 Jan 2026, with a current Mojo Score of 57.0. This upgrade indicates a modest improvement in the bank’s fundamental and technical outlook, although the score remains in the mid-range, suggesting cautious optimism. The bank’s Market Cap Grade remains at 1, reflecting its status as a large-cap entity with a market capitalisation of ₹10,09,638 crores, underscoring its systemic importance in the private sector banking space.

Sectoral and Benchmark Context

The private sector banking sector has faced headwinds recently, with many peers experiencing volatility amid macroeconomic uncertainties and regulatory developments. ICICI Bank’s underperformance relative to its sector and the Sensex highlights the challenges it faces in regaining investor confidence. However, the bank’s strong franchise, diversified loan book, and improving asset quality metrics provide a foundation for medium-term recovery, contingent on broader market conditions stabilising.

Technical Indicators and Investor Sentiment

Technical analysis reveals that ICICI Bank’s share price is currently below all major moving averages, a bearish signal that may deter short-term traders. The intraday low of ₹1,364.30 represents a 3.3% drop from the previous close of ₹1,410.80, indicating selling pressure. Yet, the slight increase in delivery volumes suggests that some investors view the current price levels as attractive for accumulation, potentially setting the stage for a technical rebound if market sentiment improves.

Outlook and Investor Considerations

For investors, ICICI Bank presents a mixed picture. The recent downgrade in price momentum and underperformance relative to sector and benchmark indices warrant caution. However, the upgrade in Mojo Grade to Hold and sustained institutional interest indicate that the bank’s underlying fundamentals remain intact. The stock’s liquidity and high-value trading activity provide ample opportunity for active traders and institutional players to enter or exit positions efficiently.

Investors should closely monitor upcoming quarterly results, asset quality trends, and macroeconomic developments impacting the banking sector. Given the current technical weakness, a recovery may require positive catalysts such as improved credit growth, stable interest margins, or regulatory clarity. Until then, a cautious stance with selective accumulation at support levels may be prudent.

Comparative Analysis and Market Positioning

Within the private sector banking universe, ICICI Bank’s large-cap status and extensive branch network provide competitive advantages. However, its recent price performance trails some peers who have demonstrated stronger momentum or better earnings surprises. The SwitchER analysis by MarketsMOJO highlights that alternative large-cap private banks may offer superior risk-adjusted returns based on a combination of fundamentals, momentum, and valuation metrics. This insight is valuable for investors seeking to optimise portfolio allocation within the sector.

Summary of Key Metrics

To summarise, ICICI Bank’s key trading and performance metrics as of 19 Jan 2026 are:

• Total traded volume: 53,56,464 shares


• Total traded value: ₹73,790.65 lakhs (₹737.9 crores)


• Previous close: ₹1,410.80


• Opening price: ₹1,399.90


• Day’s high: ₹1,400.00


• Day’s low: ₹1,364.30


• Last traded price (LTP): ₹1,370.70


• 1-day return: -2.89%


• Sector 1-day return: -0.87%


• Sensex 1-day return: -0.52%


• Consecutive 3-day fall: -4.75%


• Mojo Score: 57.0 (Hold, upgraded from Sell on 05 Jan 2026)


• Market cap: ₹10,09,638 crores (Large Cap)

These figures illustrate the stock’s current challenges and the significant market interest it continues to command.

Conclusion

ICICI Bank Ltd. remains a focal point for investors due to its high-value trading activity and institutional engagement. While the stock faces near-term headwinds reflected in its price decline and technical indicators, the fundamental upgrade and steady delivery volumes suggest a nuanced outlook. Investors should weigh the risks of continued volatility against the bank’s strong market position and potential for recovery. Monitoring sector trends and alternative investment options within private sector banking will be essential for informed decision-making in the coming weeks.

Unlock special upgrade rates for a limited period. Start Saving Now →