ICICI Bank rose 3.21% to Rs 400, extending gains for the sixth session.
Shares of ICICI Bank spurted 12.70% in six trading sessions from its recent closing low of Rs 354.90 on 30 September 2020.
Shares of banks firmed up after the Reserve Bank of India (RBI) left the key policy rates unchanged while maintaining its accommodative stance after the conclusion of the Monetary Policy Committee (MPC) meeting today, 09 October 2020.
The scrip has zoomed 48.69% from its 52-week low of Rs 269 hit on 24 March 2020.
On the technical front, the stock's RSI (relative strength index) stood at 65.263. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 369.74 and its 200-day moving average (DMA) placed at 401.72.
ICICI Bank is one of India's leading private banks. The private sector lender posted reported a 36.2% rise in net profit to Rs 2,599.15 crore on a 21.8% jump in total income to Rs 26,069.95 crore in Q1 June 2020 over Q1 June 2019.
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