ICICI Bank Share Price Nears Record High, What’s Powering the Surge?

June 26, 2025: ICICI Bank is trading 1.03% higher at ₹1,440.45, within a range of ₹1,447.50–₹1,423.20. The stock has gained 11.25% in 2025 and 0.93% over the past 5 days. Its TTM P/E stands at 18.62, higher than the sector average of 9.04. Out of 39 analysts, 19 rate it as a strong buy and 17 as a buy. The bank reported a net profit of ₹13,502.22 crore in the last quarter. As of March 31, 2025, mutual fund holdings rose to 29.86% and FII holdings increased to 45.82%.

The Bank NIFTY index surged to a new all-time high of 57,113 on Thursday afternoon, surpassing its previous peak of 57,049. Defying recent market headwinds and global uncertainty, the index has displayed remarkable strength, clocking an impressive 12.2% gain in 2025 and 8.5% over the past year.

Also Read: What’s Powering Jio, Adani & Shriram’s Surge on NIFTY Today?

What’s Driving the Surge?

The rally is being powered by key banking stocks like HDFC Bank, ICICI Bank, Axis Bank, and AU Small Finance Bank, which gained up to 1.7% in a single session. Here’s a breakdown:

• Bank NIFTY Outlook:
  Technical charts show the index is trading near the upper Bollinger Band, a sign of strong momentum. Analysts maintain a bullish outlook, citing key support at 56,112 (20-day SMA).
• HDFC Bank:
  HDFC Bank touched a record high of ₹2,106, breaking out of a 3-month consolidation range. The rally is attributed to the upcoming ex-dividend date (June 27) and HDB Financial Services IPO.
• ICICI Bank:
  ICICI Bank rose 1.4% to ₹1,445 and is nearing its record high of ₹1,471. Technical indicators show bullish momentum, with the price above the 21 EMA. A close above ₹1,429 may trigger a breakout.
• Axis Bank:
  Axis Bank is forming a triple top pattern at ₹1,232 but remains strong technically, supported at ₹1,210 by its 21 EMA.