Icici Bank Share Price: D-Street's Resilience Amid Asia Meltdown

Nidhi Thakur

July 18, 2026

Key Takeaways

Nifty 50 rose 261.55 points to 24,334.3 and the Sensex gained 964.58 points to 78,151.45 as Indian markets bucked the Asian meltdown.
Nifty IT index rose 1.75% and Bank Nifty gained 1.6%, while the Auto index climbed 1.2%.
Brent crude futures traded at $86 a barrel on Friday evening, up from $76 last week amid renewed Strait of Hormuz tensions.
Technical and derivative indicators point to further gains next week with supports at 24,200–24,250 and resistance around 24,600–24,700.

Investors watching icici bank share price saw Indian markets buck the Asia-wide selloff as Nifty 50 rose 261.55 points to 24,334.3, up 1.1%, and the BSE Sensex gained 964.58 points to 78,151.45, up about 1.25% on Friday. Across Asia, Japan fell 4.03%, Hong Kong declined 1.8%, China shed 3.05%, and Taiwan dropped 6.5%, underscoring a stark divergence in regional risk sentiment. Yet Indian equities held their ground, helped by a selective rally in banking and IT stocks that cushioned broader weakness and kept the domestic market within a constructive uptrend path.

Friday’s moves come amid a week in which the India VIX, the market’s fear gauge, rose 2.1% to 13.15 as traders recalibrated risk appetite. While the wider Asian complex faced pressure from AI-related and semiconductor stock selloffs, Indian markets found support from domestic factors, including earnings expectations in the banking sector and a resilient IT sector, which helped offset some of the external headwinds.

Our markets were insulated from the Asian selling due to the lack of AI play, said Sham Chandak, head of institutional equities at Elios Financial Services. With the shaky AI trend trading globally, Indian IT services stocks have taken a breather and are partially aided by better-than-expected earnings. Major banking stocks – HDFC, ICICI, Kotak, and Axis – are set to announce their earnings on Saturday, which could set the tone for near-term direction. Meanwhile, Brent crude futures traded at $86 a barrel on Friday evening, up from $76 last week amid renewed tensions in the Strait of Hormuz.

Looking ahead, technical and derivative indicators are pointing toward continued gains next week. Options data shows fresh put writing at the 24,200 and 24,000 strikes, establishing a robust near-term support base, while call unwinding at the 24,500 strike signals room for further upside. Conversely, fresh call writing at 24,600 and 24,700 strikes could act as the immediate resistance zone. The bias, as of now, remains positive for next week, with dips toward 24,200–24,250 viewed as buying opportunities so long as the Nifty holds above 23,970 and immediate upside targets sit at 24,500 and 24,700.

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Frequently Asked Questions

What were the key index moves on Friday?

Nifty 50 rose 261.55 points to 24,334.3 (approximately 1.1%), and the BSE Sensex gained 964.58 points to 78,151.45 (about 1.25%).

Which sectors led the rally on Friday?

Banking and IT stocks led the rally, with the Nifty IT index rising 1.75% and Bank Nifty up 1.6%, while the Auto index climbed 1.2%.

What was happening with oil prices and regional tensions?

Brent crude futures traded at $86 a barrel on Friday evening, up from $76 a week earlier, amid renewed tensions in the Strait of Hormuz.

What does the data suggest about next week’s direction?

Technical and derivative indicators point to continued gains next week, with fresh put writing at 24,200 and 24,000 providing support, while call activity at 24,600 and 24,700 could cap upside near-term.

What were the net flows from FPIs and DIIs, and what might that imply?

Foreign portfolio investors were net sellers of shares worth 376 crore, while domestic institutional investors were net buyers of shares worth 1,018 crore.

When were earnings expected for major banks, and which banks were mentioned?

Major banking stocks like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank were set to announce their earnings on Saturday, July 18, 2026.

Conclusion

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Reference :

1 : Economictimes

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