Shares of ICICI Bank has higher by 3% to Rs 1,732 on National Stock Exchange (NSE) after the bank has fixed December 5 as the record date for its proposed stock split.

The bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the bank, ICICI Bank said in a statement.

Markets started the day in green with the benchmark indices up 0.2% each in opening deals. The ones leading the opening gains were L&T, Tata Motors, ICICI Bank and ONGC.

At 0919 hrs, the Sensex was up 58 points at 28,067 and the Nifty added 12 points to trade at 8,395.

India’s second largest fund house, ICICI Prudential AMC, has emerged as the front runner for managing the exchange-traded fund (ETF) the government plans to float for disinvesting part of its holdings under the Specified Undertaking of Unit Trust of India (Suuti).

It had bid to manage Suuti's corpus for 13 basis points (0.13 per cent of the total assets under management). The government had bids from seven asset management companies to act as manager to the ETF. These were Reliance Mutual Fund, Birla Sun Life MF, Kotak MF, SBI MF, ICICI Prudential AMC, UTI MF and Sundaram MF in a consortium with Edelweiss MF.

Markets remained rangebound with negative bias in noon trades on Monday with auto shares leading the decline on the back of weak October sales while bank shares continued to trade firm.

At 13:00hrs, the 30-share Sensex was down 21 points at 27,845 and the 50-share Nifty was trading 8 points lower at 8,314.

Benchmark indices are trading weak after paring early morning gains, ahead of a truncated trading week, with gains in information technology and metal shares offsetting some of the losses posted by auto and consumer durable shares.

At 10:30 AM, Sensex was down 17 points at 26,849 while Nifty was down 9 points at 8,313. In the broader market, BSE Mid cap and Small cap indices have gained around 0.8% each. Market breadth is positive with 1,408 gainers, as against 820 declines.

Maruti Suzuki India, the country’s largest carmaker and Axis Bank, the third largest private bank, have joined the elite club of companies with market capitalisation (m-cap) of more than Rs 1 lakh crore. Shares of both these companies hit their respective lifetime highs during intra-day deal on the bourses.

At 1340 hours, shares of Axis Bank up about 2% to Rs 437 on the BSE, taking its market value to Rs 1,03,154 crore.

Benchmark indices have opened at record high levels on Friday on the back of firm global cues and and heavy FII buying. Also, the government's announcement of FDI norms for real estate sector boosted investor sentiment

At 9:40AM, the 30-share Sensex is up 198 points at 27,544 and the 50-share Nifty has gained 57 points at 8,226.

ICICI Bank – the country’s largest private sector lender reported a net profit of Rs 2,709 crore for the quarter ended September 30 which is higher by 15% as compared to the same period of the previous year.

The rise in profit was aided by 26% growth in non-interest income and expansion of net interest margins (NIM) on the back of 25% year-on-year growth in retail advances.

A group of 69 non-resident Indian investors have dragged ICICI Venture, India’s largest private equity firm, and ICICI Bank to the supreme court of Mauritius on charges that the fund they had invested in failed to deliver the returns outlined initially. The investors have also complained they have been misguided by the two entities, which did not disclose pertinent information about the fund’s performance and the risks associated with it, a charge dismissed by ICICI Venture as baseless and malicious.

Markets opened marginally higher on Tuesday with the benchmark Nifty reclaiming the 8,000 mark led by financials. However, traders are likely to remain cautious ahead of the two-day FOMC meet which begins today.

At 9:35AM, the 30-share Sensex was up 99 points at 26,852 and the 50-share Nifty was up 25 points at 8,017.

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