NEW DELHI: Private bank stocks ICICI Bank (down 1.47 per cent), Kotak Mahindra Bank (down 1.17 per cent), Axis Bank (down 1.17 per cent) and Karnataka Bank (down 1.07 per cent) were trading in the negative zone in morning trade on Tuesday.

The Nifty Private Bank index was trading 0.71 per cent down at 14,442 around 10:15 am (IST).

Shares of South Indian Bank (down 0.74 per cent), IDFC Bank (down 0.57 per cent), HDFC Bank (down 0.30 per cent) and IndusInd Bank (down 0.02 per cent) were also in the red in private bank index.

However, shares of YES Bank (up 0.54 per cent), Federal Bank (up 0.21 per cent) and IndusInd Bank (up 0.04 per cent) were marginally up around that time.

Equity benchmarks erased the gains of opening session due to selling in bank, metal and financial stocks.

The NSE Nifty50 index was 9 points down at 10,573, while the BSE Sensex was 22 points down at 34,423.

Among the 50 stocks in the Nifty50 index, 21 were trading in the green, while 29 were in the red.

GAIL (India), Oil & Natural Gas Corporation, Tata Consultancy Services, Reliance Industries and YES Bank were trading up in the Nifty pack of stocks.

However, Ambuja Cements, ICICI Bank, Kotak Mahindra Bank, Axis Bank and Adani Ports and SEZ were among the top losers in the Nifty50 index.