ICICI Bank Limited (IBN) Shares are Up 4.17%

ICICI Bank Limited (IBN) has been under a strong bear grip, hence the stock is down -4.59% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.2% in the past 1 week. The stock has risen by 4.17% in the past week indicating that the buyers are active at lower levels, but the stock is down -4.22% in the past 4 weeks.

ICICI Bank Ltd. is up 14.99% in the last 3-month period. Year-to-Date the stock performance stands at -2.34%. The stock has recorded a 20-day Moving Average of 0.49% and the 50-Day Moving Average is 1.18%.


ICICI Bank Limited (NYSE:IBN): The stock was completely flat for the day, closing at $7.49 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $7.48, the stock touched an intraday high of $7.52 and a low of $7.46. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $7.49. The total trading volume on Friday was 7,498,844.

Also, Equity analysts at the Brokerage firm Goldman Sachs downgrades its rating on ICICI Bank Limited (NYSE:IBN). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on May 3, 2016.

ICICI Bank Limited is a banking company. The Bank is a financial services group providing a range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. Its operating segments include Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance and Others. Retail banking includes exposures of the Bank, which satisfy the criteria of orientation, product, granularity and low value of individual exposures for retail exposures laid down in Basel Committee on Banking Supervision document International Convergence of Capital Measurement and Capital Standards: A Revised Framework. Wholesale banking includes all advances of the Bank to trusts, partnership firms, companies and statutory bodies. Treasury includes the entire investment and derivative portfolio of the Bank.

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