Key Events This Week
21 Sep: Stock opens week at Rs.1,503.15 with 1.02% gain
22 Sep: Price dips 1.18% to Rs.1,485.40 on low volume
23 Sep: Recovery with 1.32% rise to Rs.1,505.00
24 Sep: Intraday high surge to Rs.1,577.60; strong call option activity
25 Sep: Week closes at Rs.1,554.00, down 1.36% on final day
Monday, 21 September: Positive Start Amid Broader Market Gains
ICICI Lombard began the week on a positive note, closing at Rs.1,503.15, up 1.02% from the previous Friday’s close of Rs.1,488.00. This outpaced the Sensex’s 0.46% gain to 35,787.64. The stock’s volume of 2,88,307 shares indicated healthy investor interest, setting a constructive tone for the week ahead.
Tuesday, 22 September: Price Correction on Thin Volume
The stock experienced a pullback on 22 September, declining 1.18% to Rs.1,485.40 on notably low volume of 11,108 shares. This underperformance contrasted with the Sensex’s modest 0.32% decline to 35,672.04. The subdued trading activity suggested a temporary profit-taking phase amid cautious market sentiment.
Wednesday, 23 September: Recovery Gains Amid Rising Delivery Volumes
ICICI Lombard rebounded on 23 September, climbing 1.32% to Rs.1,505.00, outperforming the Sensex’s 0.56% gain to 35,870.78. Delivery volumes increased to 5.83 lakh shares, a 6.42% rise over the five-day average, signalling genuine buying interest rather than speculative trading. This uptick in participation supported the stock’s positive momentum ahead of key expiry events.
Thursday, 24 September: Intraday Surge and Derivatives Activity Drive Rally
The highlight of the week came on 24 September when ICICI Lombard surged to an intraday high of Rs.1,577.60, marking a 5.04% gain on the day and significantly outperforming the Finance/NBFC sector’s 2.68% decline and the Sensex’s 1.62% fall to 35,291.38. The stock opened lower at Rs.1,466.05 but reversed sharply, reflecting strong buying interest and volatility.
Simultaneously, the derivatives market saw a sharp 28.51% increase in open interest, rising by 9,238 contracts to 41,646, indicating fresh bullish positioning. Call option activity was particularly notable at the ₹1,560 strike price, with 10,276 contracts traded and a turnover of ₹5.94 crores, underscoring investor optimism ahead of the 29 September expiry.
Despite the strong short-term momentum, the stock remains below its 50-day, 100-day, and 200-day moving averages, reflecting mixed medium- and long-term technical signals. The MarketsMOJO Mojo Score stands at 37.0 with a Sell grade, reflecting fundamental caution despite the recent price strength.
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Friday, 25 September: Profit Booking Ends Week Slightly Lower
On the final trading day of the week, ICICI Lombard closed at Rs.1,554.00, down 1.36% from the previous day’s close, on volume of 17,348 shares. The Sensex, however, gained 0.18% to 35,353.29. Despite the slight dip, the stock ended the week with a strong 4.44% gain overall, reflecting resilience amid mixed market conditions.
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Weekly Price Performance: ICICI Lombard vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-09-21 | Rs.1,503.15 | +1.02% | 35,787.64 | +0.46% |
| 2026-09-22 | Rs.1,485.40 | -1.18% | 35,672.04 | -0.32% |
| 2026-09-23 | Rs.1,505.00 | +1.32% | 35,870.78 | +0.56% |
| 2026-09-24 | Rs.1,575.40 | +4.68% | 35,291.38 | -1.62% |
| 2026-09-25 | Rs.1,554.00 | -1.36% | 35,353.29 | +0.18% |
Key Takeaways
Positive Signals: ICICI Lombard outperformed the Sensex by 5.20 percentage points over the week, supported by strong intraday rallies and increased delivery volumes. The surge in call option activity and open interest ahead of the 29 September expiry indicates bullish market positioning and investor optimism. The stock’s ability to rebound sharply on 24 September despite sector and market weakness highlights its relative strength.
Cautionary Notes: Despite short-term gains, the stock remains below key medium- and long-term moving averages, reflecting unresolved resistance levels. The MarketsMOJO Mojo Grade of Sell and a score of 37.0 suggest fundamental concerns persist, possibly related to valuation or sector headwinds. The slight decline on the final trading day and mixed technical indicators counsel prudence amid ongoing volatility.
Conclusion
ICICI Lombard General Insurance Company Ltd demonstrated a resilient and volatile trading week, closing with a notable 4.44% gain while the broader Sensex declined. The stock’s strong intraday performance on 24 September, coupled with heightened derivatives activity and call option interest, underscores a bullish near-term sentiment among traders. However, the fundamental caution reflected in the Mojo Sell rating and the stock’s position below longer-term moving averages suggest that investors should remain vigilant. Monitoring price action around the 50-day moving average and expiry-related volatility will be critical in assessing whether this momentum can be sustained beyond the short term.
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