Axis up 4% on strong Q4 earnings

Axis Bank shares rise 3.7 percent after the bank posts better-than-expected March quarter results. Results, which came on Wednesday, showed net profit was at Rs 1555 crore versus estimates of Rs 1277 crore.

Other banking shares also rise with the NSE banking index trading up 1.3 percent. Reuters[/caption]

Other banking shares also rise with the NSE banking index trading up 1.3 percent. SBI rises 1.3 percent, Punjab National Bank up 1.3 percent, Union Bank gains 3 percent.

Investors broadly bullish on rate-sensitive stocks such as banks ahead of the RBI's monetary policy on May 3 where it is widely expected to cut rates by 25 basis points.

Reuters