ICICI Bank Ltd. Sees Robust Value Trading Amid Institutional Interest

High Value Trading and Volume Dynamics

On 5 January 2026, ICICI Bank recorded a total traded volume of 46,45,037 shares, translating into a substantial traded value of ₹63,570.58 lakhs. This places the stock among the highest value turnover equities on the day, underscoring its liquidity and appeal to large investors. The stock opened at ₹1,354.20 and touched an intraday high of ₹1,375.50, closing at ₹1,365.00 as of 14:19 IST, marking a 1.30% gain from the previous close of ₹1,355.40.

Such elevated trading activity is indicative of strong demand and active participation from institutional players, who often drive large order flows in blue-chip stocks like ICICI Bank. The liquidity profile is robust, with the stock supporting trade sizes up to ₹24.09 crores based on 2% of its five-day average traded value, making it an attractive option for sizeable portfolio allocations.

Price Performance and Technical Indicators

ICICI Bank’s price performance on the day outpaced its private sector banking peers by 1.33% and the Sensex by 1.65%, with the stock delivering a 0.71% return compared to the sector’s -0.46% and Sensex’s -0.35%. The stock has also demonstrated resilience with consecutive gains over the past two sessions, accumulating a 1.98% return during this period.

From a technical standpoint, the stock is trading above its 5-day and 20-day moving averages, signalling short-term bullish momentum. However, it remains below its 50-day, 100-day, and 200-day moving averages, suggesting that medium to long-term trends are yet to confirm a sustained uptrend. This mixed technical picture warrants cautious optimism among traders and investors.

Institutional Interest and Delivery Volumes

Investor participation has notably increased, with delivery volumes reaching 58.34 lakhs shares on 2 January 2026, representing a 20.7% rise compared to the five-day average delivery volume. This surge in delivery volumes is a strong indicator of genuine buying interest rather than speculative intraday trading, reflecting confidence in the stock’s fundamentals among institutional investors and retail participants alike.

Such heightened delivery volumes often precede sustained price movements, as they indicate accumulation by long-term investors. Given ICICI Bank’s stature as a large-cap stock with a market capitalisation of ₹9,78,427 crores, this level of institutional engagement is significant and may influence near-term price trajectories.

Mojo Grade Downgrade and Market Sentiment

Despite the positive trading activity, ICICI Bank’s Mojo Grade was downgraded from Hold to Sell on 15 December 2025, with a current Mojo Score of 48.0. This downgrade reflects a cautious stance based on MarketsMOJO’s comprehensive analysis, which factors in valuation, earnings quality, and risk metrics. The bank’s Market Cap Grade remains at 1, indicating its large-cap status but also suggesting limited upside potential relative to smaller, faster-growing peers.

Investors should weigh this downgrade against the stock’s recent outperformance and strong liquidity. While the downgrade signals potential headwinds, the ongoing institutional interest and rising delivery volumes suggest that market participants are selectively optimistic about the bank’s near-term prospects.

Comparative Sector and Market Context

Within the private sector banking space, ICICI Bank continues to be a bellwether stock, often setting the tone for sectoral trends. Its outperformance relative to the sector’s 1-day return of -0.46% highlights its relative strength amid broader banking sector volatility. The Sensex’s marginal decline of 0.35% on the same day further accentuates ICICI Bank’s resilience.

However, investors should remain vigilant as the banking sector faces challenges including regulatory changes, asset quality concerns, and macroeconomic uncertainties. ICICI Bank’s ability to navigate these headwinds while maintaining strong trading volumes and institutional interest will be critical for its medium-term outlook.

Outlook and Investor Considerations

ICICI Bank’s current trading profile suggests a stock that remains highly liquid and attractive to institutional investors, despite the recent downgrade in its fundamental rating. The combination of strong value turnover, rising delivery volumes, and short-term price momentum provides a compelling case for active traders and portfolio managers seeking exposure to India’s private banking sector.

However, the mixed technical signals and the Mojo Grade downgrade counsel prudence. Investors should monitor upcoming quarterly results, asset quality trends, and macroeconomic developments closely. Given the bank’s large-cap status and market leadership, it is likely to remain a core holding for many institutional portfolios, but selective entry points and risk management will be key to optimising returns.

In summary, ICICI Bank Ltd. continues to command significant market attention through high-value trading and institutional interest, reflecting its pivotal role in India’s banking landscape. While fundamental concerns temper enthusiasm, the stock’s liquidity and relative strength offer opportunities for discerning investors.

Only Rs. 9,999 - Get MojoOne + Stock of the Week for 1 Year (MRP = Rs. 34,999) Start Today