INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Gains in shares of Axis Bank (up 1.97 per cent), Federal Bank (up 1.39 per cent), Kotak Mahindra Bank (up 0.98 per cent), RBL
Bank (up 0.83 per cent) and ICICI Bank (up 0.67 per cent) were keeping the Nifty Private Bank index in the green in Wednesday's
session.
The Nifty Private Bank index was trading 0.52 per cent up at 15,183 around 10:35 am
Shares of South Indian Bank (up 0.63 per cent), YES Bank (up 0.36 per cent) and IDFC Bank (up 0.11 per cent) too were in the
green.
However, HDFC Bank (down 0.55 per cent) and IndusInd Bank (down 0.11 per cent) were down around that time, capping the gains of the
sectoral index.
Shares of HDFC Bank slipped below their 200-Day Moving Average for the first time in 20 months
When an index or a stock closes below the 200-DMA, it is said to be in a long-term downtrend, and it signals that a new buyer of the index
or a stock is willing to pay less than the average price paid in the past 200 trading days
Market was in the positive territory amid firm global cues
Gains in sectors led by metal, pharma, bank, oil gas and auto boosted equity benchmarks
The NSE Nifty50 index was up 46 points at 11,325, while the BSE Sensex was up 137 points at 37,428
Among the 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red.
