Shares of ICICI Bank jumped over 2%, most in a week, to a record Rs 936.65 apiece.
The relative strength index of the stock is at 75, suggesting it may be overbought.
The stock has outperformed the benchmark, rising 27% in 2022 so far compare to 5% rise for Sensex.
Gold Silver Reports (GSR) – Eleven out of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Finance index’s 0.4 percent drop. On the other hand, the S&P BSE Realty index was top gainer, up 0.7 percent.
Indian equity benchmarks edged lower dragged by weakness in ICICI Bank, HDFC twins and Infosys.
Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
Gold Silver Reports (GSR) – SBI Gains After Block Deal – Shares of the country’s largest lender rose 1.83 percent to Rs 251. The stock saw 11 shares change hands in a block deal.
Gold Silver Reports (GSR) – ICICI Bank Hits Two-Month High On Recognising Major Stressed Assets – Shares of the country’s third largest lender by market cap rose as much as 7.69 percent, the most in over six months, to Rs 311.65 as cheap valuations and lower stress from bad loans was seen trumping the steepest fall in quarterly profit since 2016.
Gold Silver Reports (GSR) – Sensex, Nifty Trade Firmly Higher Led By ICICI Bank – ✅ Indian equity benchmarks traded firmly higher led by ICICI Bank which rose ahead of its March quarter earnings.
✅ The S&P BSE Sensex rose 0.3 percent or 103 points to 35,016 and the NSE Nifty 50 index gained 0.3 percent or 33 points to 10,651.
✅ Sixteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Consumer Durable index’s 1.6 percent gain. On the flipside, the S&P BSE Healthcare index was the top sectoral loser, down 0.9 percent.
Gold Silver Reports (GSR) – ICICI Bank Rises Ahead Of March Quarter Earnings – Shares of the country’s third largest private sector lender by market cap rose 0.6 percent to Rs 284.50 ahead of its March quarter earnings. –