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Stock market update: Axis Bank, ICICI Bank keep the Nifty Private Bank index up


NEW DELHI: Gains in shares of Axis Bank (up 1.25 per cent), ICICI Bank (up 0.63 per cent) and Kotak Mahindra Bank (up 0.37 per cent) were keeping the Nifty Private Bank index in the green during Thursday's trade.

The Nifty Private Bank index was trading 0.24 per cent up at 14,643 around 10:45 am.

However, shares of RBL Bank (down 0.99 per cent), IDFC Bank (down 0.99 per cent), IndusInd Bank (down 0.66 per cent) and South Indian Bank (down 0.20 per cent) were under pressure around the same time.

Meanwhile, YES Bank (up 0.03 per cent) and HDFC Bank (down 0.03 per cent) were trading almost flat.

Equity markets were up, underpinned by gains in IT, financial and bank stocks following overnight gains in the Wall Street.

US stocks ended with small gains on Wednesday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster interest rate hikes, Reuters reported.

However, losses in oil, metal and auto stocks were keeping the gains restricted.

Benchmark NSE Nifty50 index was up 29 points at 10,459, while the BSE Sensex was up 136 points at 34,481.

Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.

Infosys, Sun Pharma and Bharti Airtel were leading among Nifty gainers.

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