Share market update: Bank shares gain; YES Bank climbs over 5%

NEW DELHI: Bank shares were trading in the positive zone in Wednesday's morning session.

Shares of YES Bank (up 5.71 per cent) , Bank of Baroda (up 1.88 per cent) , IndusInd Bank (up 1.80 per cent) and RBL Bank (up 1.44 per cent) were the top gainers in the index.

State Bank of India (up 1.38 per cent) , Punjab National Bank (up 1.36 per cent) , IDFC First Bank (up 0.81 per cent) and Axis Bank (up 0.36 per cent) too were trading higher.


Meanwhile, CLSA has maintained a BUY rating on Axis Bank with a target price of Rs 900 as the brokerage expects a turnaround in earnings from FY20 onwards.

The Nifty Bank index was trading 0.43 per cent up at 27,622.85 around 09:57 am.

Benchmark NSE Nifty50 index was up 23.80 points at 11,026.85 while the BSE Sensex was up 96.31 points at 37,241.76.

Among the 50 stocks in the Nifty index, 35 were trading in the green, while 15 were in the red.

Shares of YES Bank, Vodafone Idea, Tata Motors, ICICI Lombard General Insurance Company, Ashok Leyland, JSPL, SAIL, Dish TV India, Kalpataru Power and NBCC were among the most traded shares on the NSE.