{"id":147158,"date":"2026-07-10T11:53:35","date_gmt":"2026-07-10T06:23:35","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=147158"},"modified":"2026-07-10T11:53:36","modified_gmt":"2026-07-10T06:23:36","slug":"nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/","title":{"rendered":"Nifty Bank Index Rises 1 Percent as AU Small Finance Bank, IDFC First Bank and Union Bank Lead Gainers"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>The Nifty Bank index rose about 1 percent on 10 July 2026, with AU Small Finance Bank up 2.09 percent, IDFC First Bank 2 percent and Union Bank 1.99 percent leading a green sweep.<\/em><\/p>\n<p>The <a href=\"https:\/\/univest.in\/user\/indices\/nifty-bank\/nifty-bank-share-price-today\">Nifty Bank<\/a> index climbed about 1 percent on Friday, 10 July 2026, with every constituent in the green as the banking pack joined the market-wide rally. Smaller and mid-tier lenders led: AU Small Finance Bank rose 2.09 percent to Rs 1,069.30, IDFC First Bank gained 2 percent to Rs 81.05 on hefty volumes of 3.49 million shares, and Union Bank of India added 1.99 percent to Rs 160.39.<\/p>\n<p>Public sector banks ran strong through the list, with Bank of Baroda up 1.86 percent and Canara Bank 1.55 percent, while private majors provided the index heavy lifting, Axis Bank rising 1.64 percent to Rs 1,318.90 and ICICI Bank 1.56 percent to Rs 1,402.30. The advance in the Nifty Bank index carried particular weight for the broader market, since financials command the largest weight in the Nifty 50 and no sustained rally travels far without them.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Nifty_Bank_Index_Top_Gainers_10_July_2026\" title=\"Nifty Bank Index Top Gainers: 10 July 2026\">Nifty Bank Index Top Gainers: 10 July 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#What_Is_Driving_the_Nifty_Bank_Index_Higher\" title=\"What Is Driving the Nifty Bank Index Higher\">What Is Driving the Nifty Bank Index Higher<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Reading_the_Leaderboard_Small_Banks_and_PSUs_in_Front\" title=\"Reading the Leaderboard: Small Banks and PSUs in Front\">Reading the Leaderboard: Small Banks and PSUs in Front<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#What_Should_Investors_Watch_Next\" title=\"What Should Investors Watch Next\">What Should Investors Watch Next<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#The_Deposit_War_Thaw_and_What_It_Means_for_Lenders\" title=\"The Deposit War Thaw and What It Means for Lenders\">The Deposit War Thaw and What It Means for Lenders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#FAQs_About_the_Nifty_Bank_Index_Rally\" title=\"FAQs About the Nifty Bank Index Rally\">FAQs About the Nifty Bank Index Rally<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Why_did_the_Nifty_Bank_index_rise_on_10_July_2026\" title=\"Why did the Nifty Bank index rise on 10 July 2026?\">Why did the Nifty Bank index rise on 10 July 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Which_banks_led_the_Nifty_Bank_index_gains\" title=\"Which banks led the Nifty Bank index gains?\">Which banks led the Nifty Bank index gains?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Why_did_smaller_banks_outperform_large_private_banks\" title=\"Why did smaller banks outperform large private banks?\">Why did smaller banks outperform large private banks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#How_do_interest_rate_cuts_affect_bank_stocks\" title=\"How do interest rate cuts affect bank stocks?\">How do interest rate cuts affect bank stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#What_should_investors_watch_in_bank_results_this_season\" title=\"What should investors watch in bank results this season?\">What should investors watch in bank results this season?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Why_does_the_Nifty_Bank_index_matter_for_the_broader_market\" title=\"Why does the Nifty Bank index matter for the broader market?\">Why does the Nifty Bank index matter for the broader market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/nifty-bank-index-up-1-percent-au-small-finance-idfc-first-union-bank\/#Did_all_constituents_of_the_Nifty_Bank_index_rise\" title=\"Did all constituents of the Nifty Bank index rise?\">Did all constituents of the Nifty Bank index rise?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Nifty_Bank_Index_Top_Gainers_10_July_2026\"><\/span><strong>Nifty Bank Index Top Gainers: 10 July 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Company<\/th>\n<th>CMP (Rs)<\/th>\n<th>Change (%)<\/th>\n<th>Volume<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/aubank\/au-small-finance-bank-ltd-share-price-today\">AU Small Finance Bank<\/a><\/td>\n<td>1,069.30<\/td>\n<td>+2.09<\/td>\n<td>196.02k<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/idfcfirstb\/idfc-first-bank-ltd-share-price-today\">IDFC First Bank<\/a><\/td>\n<td>81.05<\/td>\n<td>+2.00<\/td>\n<td>3.49m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/unionbank\/union-bank-of-india-share-price-today\">Union Bank of India<\/a><\/td>\n<td>160.39<\/td>\n<td>+1.99<\/td>\n<td>2.53m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/bankbaroda\/bank-of-baroda-share-price-today\">Bank of Baroda<\/a><\/td>\n<td>249.15<\/td>\n<td>+1.86<\/td>\n<td>2.44m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/axisbank\/axis-bank-ltd-share-price-today\">Axis Bank<\/a><\/td>\n<td>1,318.90<\/td>\n<td>+1.64<\/td>\n<td>573.75k<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/icicibank\/icici-bank-ltd-share-price-today\">ICICI Bank<\/a><\/td>\n<td>1,402.30<\/td>\n<td>+1.56<\/td>\n<td>1.04m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/canbk\/canara-bank-share-price-today\">Canara Bank<\/a><\/td>\n<td>126.73<\/td>\n<td>+1.55<\/td>\n<td>4.87m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/yesbank\/yes-bank-ltd-share-price-today\">Yes Bank<\/a><\/td>\n<td>23.97<\/td>\n<td>+1.40<\/td>\n<td>14.30m<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/indusindbk\/indusind-bank-ltd-share-price-today\">IndusInd Bank<\/a><\/td>\n<td>1,027.70<\/td>\n<td>+1.24<\/td>\n<td>326.54k<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/stocks\/federalbnk\/the-federal-bank-ltd-share-price-today\">Federal Bank<\/a><\/td>\n<td>331.35<\/td>\n<td>+1.10<\/td>\n<td>598.40k<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Driving_the_Nifty_Bank_Index_Higher\"><\/span><strong>What Is Driving the Nifty Bank Index Higher<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The rally rests on a favourable earnings-season setup. Banking system asset quality sits at multi-decade bests, credit growth is running at a healthy double-digit clip, and the rate-cut cycle, while compressing margins near term as loans reprice faster than deposits, is expected to revive credit demand and unlock treasury gains on bond portfolios. With Q1 FY27 results beginning to flow, positioning is building in lenders expected to show stable margins and controlled slippages, and Friday&#8217;s move in the <a href=\"https:\/\/univest.in\/indices\/nifty-bank\/nifty-bank-share-price-today\">Nifty Bank<\/a> gauge reflects that anticipation.<\/p>\n<p>The day&#8217;s risk-on backdrop did the rest: India VIX collapsing over 6 percent, FII buying earlier in the week and every sectoral index trading green gave financials the flow tailwind that high-weight sectors enjoy first when index-level money arrives.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/sebi-registered-investment-advisor-india\"><strong>Position for Results Season With a SEBI Registered Investment Advisor<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reading_the_Leaderboard_Small_Banks_and_PSUs_in_Front\"><\/span><strong>Reading the Leaderboard: Small Banks and PSUs in Front<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The composition of gainers tells its own story. AU Small Finance Bank and IDFC First Bank lead a list where public sector lenders occupy three of the next five slots, while the largest private banks sit mid-table. That ordering is characteristic of risk-appetite days: smaller and higher-beta lenders outperform when confidence rises, and PSU banks, still trading at discounts to private peers despite record profitability, attract the value-plus-momentum trade. Yes Bank&#8217;s 14.30 million share volume, the day&#8217;s heaviest in the pack, shows retail participation joining the move.<\/p>\n<p>For index trackers, the healthiest feature was unanimity: a green sweep across all constituents of the Nifty Bank index indicates sector-wide conviction rather than a two-stock distortion, the pattern that historically precedes durable sector legs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Should_Investors_Watch_Next\"><\/span><strong>What Should Investors Watch Next<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bank results dominate the near-term calendar, with the market focused on net interest margins as deposit repricing catches up with loan yields, credit growth guidance, and slippage trends in unsecured retail books. The Nifty Bank index reclaiming and holding its recent highs would confirm financials resuming market leadership, while margin disappointment from an early major reporter could stall the advance quickly given the positioning now building.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Deposit_War_Thaw_and_What_It_Means_for_Lenders\"><\/span><strong>The Deposit War Thaw and What It Means for Lenders<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Behind the day&#8217;s optimism lies a structural easing that has been quietly improving bank economics: the ferocious deposit competition of the past two years is thawing as system liquidity improves and rate cuts transmit. Banks that were paying up for bulk deposits are watching funding costs drift lower, and lenders with strong retail deposit franchises, the quality that separated the sector&#8217;s haves from have-nots, are seeing their moats monetise as spreads stabilise.<\/p>\n<p>The small finance banks&#8217; leadership in Friday&#8217;s session connects to the same current. AU Small Finance Bank and peers run higher-yield loan books funded increasingly by maturing deposit franchises, so falling funding costs flow to their margins fastest, while their valuations had compressed during the deposit war precisely because funding was their vulnerability. The reversal of that pressure is the re-rating argument now attracting positioning.<\/p>\n<p>PSU banks complete the picture with the sector&#8217;s cleanest balance sheets in a generation: gross NPAs at multi-decade lows, provision coverage fortress-like, and credit costs so benign that even modest margin compression leaves return ratios at levels their valuations only partially reflect. That combination, improving funding, clean books and reasonable multiples, is the platform under the Nifty Bank index as results season opens.<\/p>\n<p>Derivatives positioning adds the final layer for traders: the Nifty Bank index hosts the market&#8217;s most liquid sector derivatives, and expiry-week dynamics frequently amplify directional moves as option writers adjust. With the index approaching its recent highs, the concentration of call open interest just above current levels makes the coming sessions a test of whether fresh longs or trapped shorts are driving the advance, a distinction that will show in how the gauge behaves on the first red day.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the Nifty Bank index, live prices and expert trade ideas.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Nifty Bank index rose about 1 percent on 10 July 2026 in a green sweep led by AU Small Finance Bank, IDFC First Bank and Union Bank of India, with PSU lenders strong and private majors supplying the weight. The advance reflects results-season positioning atop a risk-on session, and its durability now hangs on the margin and asset quality numbers the sector begins reporting. As the market&#8217;s heaviest sector, the Nifty Bank index remains the gauge that will decide whether the week&#8217;s recovery matures into a trend.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_About_the_Nifty_Bank_Index_Rally\"><\/span><strong>FAQs About the Nifty Bank Index Rally<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_Nifty_Bank_index_rise_on_10_July_2026\"><\/span><strong>Why did the Nifty Bank index rise on 10 July 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The index gained about 1 percent on results-season positioning, multi-decade-best asset quality, healthy credit growth and a risk-on session in which India VIX fell over 6 percent and all sectors traded green.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_banks_led_the_Nifty_Bank_index_gains\"><\/span><strong>Which banks led the Nifty Bank index gains?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> AU Small Finance Bank rose 2.09 percent, IDFC First Bank 2 percent and Union Bank of India 1.99 percent, followed by Bank of Baroda, Axis Bank and ICICI Bank.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_smaller_banks_outperform_large_private_banks\"><\/span><strong>Why did smaller banks outperform large private banks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Higher-beta lenders typically lead on risk-appetite days, while PSU banks attract value-driven momentum given their valuation discounts despite record profitability.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_do_interest_rate_cuts_affect_bank_stocks\"><\/span><strong>How do interest rate cuts affect bank stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Rate cuts compress margins near term as loans reprice faster than deposits, but they revive credit demand and generate treasury gains on bond holdings, typically a net positive over the cycle.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_investors_watch_in_bank_results_this_season\"><\/span><strong>What should investors watch in bank results this season?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net interest margin trends as deposit costs catch up, credit growth guidance, and slippages in unsecured retail loans, the metrics most likely to move the sector.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_does_the_Nifty_Bank_index_matter_for_the_broader_market\"><\/span><strong>Why does the Nifty Bank index matter for the broader market?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Financials carry the largest weight in the Nifty 50, so sustained market rallies require banking participation, making the index a leadership barometer.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Did_all_constituents_of_the_Nifty_Bank_index_rise\"><\/span><strong>Did all constituents of the Nifty Bank index rise?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, the session saw a green sweep across the pack, from Yes Bank on 14.30 million shares to IndusInd Bank and Federal Bank, indicating sector-wide conviction.<\/p>\n<div class=\"faq-schema\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nifty Bank index rises 1 percent on 10 July 2026 with AU Small Finance Bank, IDFC First Bank and Union Bank of India leading gains of about 2 percent each. 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