ICICI Bank hit a 52-week high of Rs 1,555 and HDFC Bank touched Rs 783 on 6 November, backed by heavy foreign buying and cheaper crude oil.

Overseas funds did much of the lifting. Foreign portfolio investors bought a net Rs 14,975 crore of Indian shares on 5 November, according to provisional exchange data.

That was their biggest single-day purchase in nearly six years. Oil also played a part.

Crude fell below $100 a barrel, which eases worries about inflation and the country’s import bill.

Reports said lower oil prices can support sentiment towards banks.

The past week has been strong for both lenders. ICICI Bank is up 11.05% and HDFC Bank has gained 12.39%.

Over one month, the gains stand at 15.62% for ICICI Bank and 9.45% for HDFC Bank.

ICICI Bank’s Rs 1,555 peak is also its 52-week high, set on 6 November. The stock is up 16.03% so far this year and 17.58% over one year.

HDFC Bank’s picture is different. The stock is still down 21.44% this year and sits about 23% below its 52-week high of Rs 1,017.50, set on 1 December 2025.

Its 52-week low of Rs 669.20 came on 28 October, and the stock now trades about 16% above that level. Recent exchange records add some background.

HDFC Bank went ex-dividend for Rs 13 a share on 19 June, and ICICI Bank for Rs 12 a share on 3 August.

Ex-dividend simply means anyone buying after that date misses out on the payout.

At 14:25 pm, ICICI Bank traded at Rs 1,552.40 on the NSE, up 3.49% from Thursday’s close of Rs 1,500.

HDFC Bank was at Rs 778.75, a gain of 2.47% over its Rs 760 close. The Nifty 50 was up 1.14%.

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