ICICI Bank Share Price Today, June 10, 2026: Stock Surges Over 1% on RBI Forex Push

The stock of ICICI Bank (NSE: ICICIBANK) is experiencing a robust uptick in early intraday trade today, currently trading at INR 1,290.60, marking a gain of 1.22% from its previous close of INR 1,275.00. The private sector banking heavyweight opened the session at INR 1,271.30 and has since climbed to an intraday high of INR 1,290.90, matching its current Last Traded Price, while maintaining a low of INR 1,271.30. This upward movement is accompanied by significant trading activity, with volume currently surging at 4,790,456 shares, indicating strong buyer interest and market participation. The positive momentum for ICICI Bank comes amidst a broader bullish sentiment across the Indian banking sector. Stocks To Buy or Sell Today, June 10, 2026: Bharti Airtel, InterGlobe Aviation and Dixon Technologies Among Shares That May Remain in Focus on Wednesday.

In the context of its annual performance, ICICI Bank is currently trading above its 52-week low of INR 1,187.60, which was recorded on April 2, 2026. However, it remains below its 52-week high of INR 1,500.00, achieved on July 25, 2025. Today's move, while significant for the session, is not yet testing these key annual resistance levels but does show a healthy rebound from recent lows, suggesting a potential strengthening of its position within its annual trading range.

The primary catalyst driving ICICI Bank's upward trajectory, and indeed the broader banking sector rally, appears to be the Reserve Bank of India's (RBI) recent operational guidelines for a special foreign currency non-resident (bank) or FCNR(B) swap window. The RBI's push for increased forex assets has created a positive environment for banks, with market participants identifying large private lenders like ICICI Bank, HDFC Bank, and State Bank of India as significant beneficiaries due to their extensive overseas presence and capabilities. Salesforce Layoffs Continue: Marc Benioff-Led Cloud Giant Cuts Jobs Across Agentforce and Mulesoft Divisions Amid Strategic AI Pivot.

This mechanism allows banks to swap fresh three-to-five-year foreign currency deposits with the central bank at par, effectively absorbing hedging costs and providing exemptions from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements. This move is anticipated to attract substantial inflows, potentially reaching an estimated USD 50 billion or INR 5 lakh crore in additional deposits, thereby addressing the persistent imbalance where credit growth has outpaced deposits. The banking sector as a whole has reacted positively to this development, with the Nifty Private Bank Index advancing by 1.64% on June 9, supported by easing crude oil prices and a strengthening Indian Rupee. Furthermore, analysts from Motilal Oswal have maintained a 'Buy' rating on ICICI Bank, projecting a 16% loan CAGR and sustained profitability, with a target price of INR 1,750, highlighting the bank's robust asset quality and strong liability franchise.

Investors will be closely watching the sustained volume and price action for the remainder of the session to see if ICICI Bank can maintain its gains and potentially challenge immediate technical resistance levels. The broader sentiment in the banking sector, particularly in response to the RBI's forex initiatives, will continue to play a crucial role in shaping the stock's performance.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Jun 10, 2026 09:54 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).