ICICI Bank Ltd. Sees Robust Value Turnover Amid Rising Institutional Interest

High Value Turnover and Trading Activity

On 23 February 2026, ICICI Bank Ltd. recorded a total traded volume of 13,24,024 shares, translating into an impressive traded value of ₹18,577.78 lakhs. This substantial turnover underscores the stock’s liquidity and appeal among both retail and institutional investors. The stock opened at ₹1,400.0 and touched a day high of ₹1,406.2, closing near the upper end of its trading range at ₹1,405.5 as of 09:44:44 IST. The day’s price movement was contained within a narrow band of ₹10.9, indicating measured but confident buying interest.

Institutional Interest and Delivery Volumes

Institutional participation has notably increased, as evidenced by the delivery volume of 68.68 lakhs shares on 20 February 2026, which represents a 24.06% rise compared to the five-day average delivery volume. This surge in delivery volumes signals strong conviction among long-term investors and mutual funds, who appear to be accumulating the stock amid positive sectoral trends and improving fundamentals.

Technical Positioning and Moving Averages

Technically, ICICI Bank’s share price is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a sustained bullish momentum over multiple time frames. However, it remains slightly below the 5-day moving average, suggesting some short-term consolidation or profit booking. The stock has also recorded consecutive gains over the past two sessions, delivering a cumulative return of 1.21%, which aligns closely with the sector’s performance and marginally outperforms the Sensex’s 0.64% gain on the same day.

Market Capitalisation and Sector Context

ICICI Bank Ltd. holds a commanding market capitalisation of ₹9,97,347 crores, categorising it firmly as a large-cap stock within the private sector banking industry. The bank’s performance today is inline with the broader private sector banking sector, which posted a 0.76% gain, reflecting steady investor confidence in the sector’s growth prospects amid a stable macroeconomic environment.

Mojo Score Upgrade and Analyst Sentiment

MarketsMOJO has recently upgraded ICICI Bank’s Mojo Grade from Sell to Hold as of 6 February 2026, reflecting an improved outlook based on the bank’s financial metrics and market positioning. The current Mojo Score stands at 54.0, indicating a moderate risk-reward profile. While the stock is not yet rated a strong buy, the upgrade signals growing confidence in its near-term prospects, supported by stable earnings growth and prudent risk management.

Liquidity and Trade Size Considerations

Liquidity remains a key strength for ICICI Bank, with the stock’s traded value comfortably supporting trade sizes up to ₹27.15 crores based on 2% of the five-day average traded value. This level of liquidity ensures that institutional investors can execute sizeable orders without significant market impact, further enhancing the stock’s attractiveness for large-scale portfolio allocations.

Comparative Performance and Sector Dynamics

ICICI Bank’s one-day return of 0.77% slightly outpaces the private sector banking sector’s 0.76% gain and the Sensex’s 0.64% rise, underscoring its relative strength within the banking universe. The stock’s steady performance amid a narrow trading range suggests a consolidation phase that could precede further upside, especially if broader market conditions remain favourable and credit growth accelerates.

Outlook and Investor Takeaways

ICICI Bank Ltd.’s recent trading activity highlights a stock that is firmly on the radar of institutional investors, buoyed by strong liquidity, improving technicals, and a positive upgrade in analyst sentiment. The bank’s ability to maintain gains over consecutive sessions, coupled with rising delivery volumes, suggests that investors are positioning for sustained growth amid a supportive economic backdrop.

However, investors should remain mindful of the stock’s current trading range and short-term resistance near the 5-day moving average. While the medium to long-term trend remains constructive, near-term volatility cannot be ruled out given broader market uncertainties and sector-specific risks such as asset quality pressures and regulatory developments.

Overall, ICICI Bank’s status as a large-cap private sector bank with a market cap nearing ₹10 lakh crores, combined with its robust trading volumes and institutional interest, makes it a pivotal stock to watch in the banking sector. Investors seeking exposure to India’s financial services growth story would do well to monitor the stock’s price action and fundamental developments closely.

Key Financial Metrics Snapshot

Market Capitalisation: ₹9,97,347 crores
Mojo Score: 54.0 (Hold)
Previous Mojo Grade: Sell (upgraded on 6 Feb 2026)
Total Traded Volume (23 Feb 2026): 13,24,024 shares
Total Traded Value (23 Feb 2026): ₹18,577.78 lakhs
Day High / Low: ₹1,406.2 / ₹1,395.3
Last Traded Price (LTP): ₹1,405.5
Delivery Volume (20 Feb 2026): 68.68 lakhs shares (up 24.06% vs 5-day avg)
1-Day Return: 0.77% (vs Sector 0.76%, Sensex 0.64%)

Conclusion

ICICI Bank Ltd. continues to demonstrate strong market interest and liquidity, supported by improving fundamentals and positive technical signals. While the Mojo Grade remains at Hold, the recent upgrade from Sell reflects a more optimistic outlook. Investors should weigh the stock’s steady performance against sector dynamics and broader market conditions to make informed decisions. The bank’s large-cap stature and consistent trading volumes make it a cornerstone for portfolios seeking exposure to India’s private banking sector.

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