Stock market update: Private banks advance; Axis Bank gains 3%

NEW DELHI: Shares of private banks were trading with gains in Thursday's morning session.

Shares of Axis Bank (up 3.08 per cent), Federal Bank (up 1.87 per cent), City Union Bank (up 1.12 per cent), Kotak Mahindra Bank (up 0.59 per cent) and ICICI Bank (up 0.55 per cent) were the top gainers.

YES Bank (up 0.52 per cent), IDFC Bank (up 0.35 per cent) and IndusInd Bank (up 0.12 per cent) too were trading in the green.

While RBL Bank (down 1.12 per cent) was the only loser in the index.

The Nifty Private Bank index was trading 0.71 per cent up at 17,052.7 around 09:42 am.

Benchmark NSE Nifty50 index was up 70.15 points at 12,177.05, while the BSE Sensex was up 258.0 points at 41,373.38.

Among the 50 stocks in the Nifty index, 36 were trading in the green, while 13 were in the red.

Shares of Vodafone Idea Cellular, YES Bank, RBL Bank, Axis Bank, Indiabulls Housing, Zee Entertainment, Tata Motors, SBI, Indian Oil Corp and PFC were among the most traded shares on the NSE.