NEW DELHI: Most PSU bank stocks including Bank of India (up 1.87 per cent), Indian Bank (up 1.66 per cent) and Allahabad Bank (up 1.64 per cent) were trading with gains during Wednesday's trade, giving a boost to the sectoral index on NSE.

The Nifty PSU Bank index was trading 1.39 per cent up at 3,143 around 10:30 am with all components in the green.

Shares of State Bank of India (up 1.64 per cent), IDBI Bank (up 1.14 per cent) and Union Bank of India (up 1.11 per cent) also featured among the top gainers in the index.

Bank of Baroda (up 0.97 per cent), Syndicate Bank (up 0.88 per cent), Andhra Bank (up 0.81 per cent), Canara Bank (up 0.77 per cent), Oriental Bank of Commerce (up 0.35 per cent) and Punjab National Bank (up 0.27 per cent) were also in the green.

Equity markets were in the green as investors' optimism level was lifted by firm IIP data.

Industrial production in India picked up pace in April, starting the new financial year on a stronger note, with all three major sectors - manufacturing, mining and electricity - contributing to the recovery.

Benchmark NSE Nifty50 index was up 23 points at 10,866, while the BSE Sensex was up 101 points at 35,794.

Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.

Dr. Reddy's Laboratories, Cipla, Lupin, Sun Pharma and Axis Bank were leading the pack of Nifty gainers.