Mumbai: Private sector lender ICICI Bank today witnessed a nearly Rs 7,000 crore gain in its market capitalisation in a single day, driven by 17 per cent surge in its shares on the bourses.

The scrip, which had fallen as much as 20 per cent on Friday, saw a significant rise today after its chief executive assured that the bank had enough liquidity to weather the current financial crisis.

The scrip settled at Rs 425.10,a gain of Rs 61 or 16.75 per cent, after touching an intra-day high of Rs 454.95,up 24.95 per cent on the BSE.

ICICI Bank s market capitalisation surged to over Rs 47,304 crore today from Friday s Rs 40,511.95 crore.

Earlier in the day, ICICI Bank CEO and MD KV Kamath assured that the depositors money is safe.

"The bank has enough cushion in the balance-sheet... Very small exposure in the US and none at all in the sub-prime," Kamath said.

The statement pulled up the scrip on the National Stock Exchange where the ICICI Bank closed 16.91 per cent up at Rs 425.15. The scrip had touched an intra-day high of Rs 454.45, up 25 per cent from previous close. Over 4.18 crore shares changed hands on both the bourses.

The bank s scrips had suffered heavy losses including 20 per cent on Friday in the face of onslaught of rumours though the largest private sector lender has been maintaining that it is facing no crunch and its financial position is strong.

The scrip has plunged over 70 per cent at present from its 52-week high of Rs 1,465,which it had scaled in January.
Source : PTI