ICICI Bank Nifty Top Gainer September 3 Trump Iran Signal

ICICI Bank Limited

CIBAN was the top gainer in the Nifty 50 in Thursday's early trade, September 3, 2026, rising over 1 per cent as US President Donald Trump played down the prospect of a prolonged conflict with Iran — triggering a sharp sector rotation from IT and FMCG into banks, metals and PSU names. ICICI Bank Limited leading the Nifty 50 on a day of geopolitical relief is consistent with the pattern that has defined August and September: every time Iran conflict risk eases and crude falls, financial stocks absorb the institutional buying that rotates out of IT defensives. The Nifty PSU Bank gained over 1 per cent by 11 AM, while Nifty Private Bank and Nifty Bank also outperformed — a broad financial sector bid that confirms the macro signal rather than being stock-specific. Jefferies has ICICI Bank as its top financial sector pick with a price target of Rs 1,750, projecting 15 per cent loan growth and 13 per cent core profit growth through FY29, with return on equity of 17 per cent in FY27. The bank's industry-leading retail deposit growth of 15 per cent year on year and gross NPA at a multi-year low of 1.67 per cent are the two metrics that keep it at the top of institutional buy lists even through volatile macro periods. The Nifty opened higher today after three consecutive sessions of losses, with the Sensex gaining 154.60 points to 76,724.95 at the open. Banking stocks led by Bank of Maharashtra, Indian Bank and Punjab and Sind Bank drove Nifty PSU Bank above 1 per cent gain — the strongest sectoral performance of the morning session.