Indian stock market recovery: Sensex up 330 points, Nifty up 100 points; ICICI Bank shares get punished
The bull representing market rally in front a BSE hoarding near Dalal Street in Mumbai | PTI
Indian stock markets seem to be on a recovery run from the Trump tariff shock, with equity benchmarks Sensex and Nifty gaining some ground on Monday morning.
Thanks to fresh foreign fund inflows and a global market rally, the 30-pack Sensex gained over 330 points to as high as 80,192 in early trade. The 50-share NSE Nifty went up by more than 100 points to 24,467.
When markets closed on Friday, August 8 2025, the Nifty closed almost flat year-on-year. Sensex inched even slightly lower. This meant, over the course of the past year, investors in Indian equities made practically no gains on average.
In the past month alone, Indian equities have steadily fallen over the course of the past month, the Sensex shed a losing a massive 3,877 points and the Nifty another 1,171.60 points when markets closed on Friday.
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Trent, Tata Motors, SBI, Eternal, and Ultratech were the top gainers in the Sensex. ICICI Bank promptly got punished for its latest move to revise the minimum monthly account balance requirements for new savings accounts.
According to the latest norms, savings bank accounts opened after August 1 2025, would have to maintain a minimum monthly average balance (MMAB) of Rs 50,000—five times the earlier requirement of Rs 10,000—in metro and urban locations.
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For semi-urban locations, the MMAB requirement would be Rs 25,000; and in rural, it would be Rs 10,000. Non-maintenance of MMAB would attract a penalty of 6 per cent of the shortfall in required MMAB or Rs 500, whichever is lower.
The move invited ire across social media, calling the move elitist, and the investors seem to be on board with the public view. ICICI Bank shares slumped over 1.15 per cent to as low as Rs 1,419.85 apiece, making it the biggest loser on the Sensex on Monday morning trade.
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