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.