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Share market update: Axis Bank, ICICI Bank jump 2%, keep private bank index up

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NEW DELHI: Private bank stocks Federal Bank (up 3.06 per cent), IDFC Bank (up 2.62 per cent), South Indian Bank (up 2.25 per cent), Axis Bank (up 2.19 per cent) and ICICI Bank (up 2.01 per cent) were witnessing decent traction during Friday's session.

Owing to the gains in the above stocks, the Nifty Private Bank index was trading 0.54 per cent up at 15,464 around 10:40 am.

Shares of Kotak Mahindra Bank (up 0.21 per cent) and RBL Bank (up 0.13 per cent) too were in the green in the index.

However, YES Bank (down 1.39 per cent), HDFC Bank (down 0.20 per cent) and IndusInd Bank (down 0.15 per cent) were slightly under pressure.

Benchmark NSE Nifty50 index was up 72 points at 11,239, while the BSE Sensex was up 295 points at 37,280.

Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red.
ITC, Hindalco Industries, State Bank of India, Bharti Airtel and Axis Bank were among the top gainers in the Nifty index.

Dr. Reddy's Laboratories, Bajaj Finserv, Tech Mahindra, Grasim Industries and Mahindra & Mahindra were among the top losers in the Nifty pack of stocks.

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