The Indian stock market traded on a positive note on Thursday morning with the BSE Sensex gaining over 100 points. The market rose after a flat opening on the back of gains in the index-heavyweight Reliance Industries.
At around 10.05 a.m., Sensex was trading at 56,065.82, higher by 121.61 points or 0.22 per cent from its previous close of 55,944.21 points. It opened at 55,988.41 and has so far touched an intra-day high of 56,068.73 points or a low of 55,854.07 points.
The Nifty50 on the National Stock Exchange was trading at 16,673.55, higher by 38.90 points or 0.23 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "We are successfully trading above 16,600 which is an indication of strength. 16,800-16,850 is a potential target and a resistance zone too.
"Traders should look at this level to take profits from their positions and update stops. Intra-day falls can be used to accumulate long positions."
The top gainers on the Sensex were Reliance Industries, HCL Technologies and Bajaj Finserv, while the major losers were Bharti Airtel, Power Grid and Maruti Suzuki India.
SEBI orders release of Yes Bank MD Rana Kapoor's bank, demat accounts
Capital market regulator SEBI on Wednesday ordered the releasing of bank accounts, lockers, demat accounts, and mutual fund folios of former Yes Bank MD and CEO Rana Kapoor.
In March, the SEBI had attached his bank accounts, and mutual fund holdings to recover dues of over Rs 1.04 crore, after the Yes Bank founder failed to pay the fine imposed on him.
The regulator had imposed a penalty of Rs 1 crore on Kapoor for violation of disclosure regulations regarding a transaction of Morgan Credits Pvt Ltd, an unlisted promoter entity of Yes Bank.
The release order comes after the Supreme Court, earlier this month, granted a conditional stay on the order by the Securities Appellate Tribunal (SAT) which had upheld a penalty of Rs 1 crore on Kapoor.
In compliance with top court's interim order, he has deposited the amount, the regulator noted in its release order.
The regulator, in its release order, directed all banks, mutual funds and depositories "to release the bank accounts/locker, demat accounts, and mutual fund folios of the defaulter (Kapoor) attached, if any, pursuant to the notice of attachment".
Petrol, diesel prices remain static for 2nd day
After price cuts, petrol and diesel prices in the country remained static for a second consecutive day on Thursday as oil marketing companies (OMC) decided to go on pause mode to see global developments in the oil markets before any further revision.
Accordingly, in the national capital, petrol continues to be sold for Rs 101.49 per litre and diesel at Rs 88.92 a litre. Across the country as well, fuel prices remained unchanged on Thursday. Global crude oil prices have fallen on past few days but has again firmed up a over $71 a barrel now.
The pump prices of auto fuels were static since July 18. The long price pause for auto fuels came after rates increased for 41 days in the current financial year.
The 41 increases have taken up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates have increased by Rs 8.74 per litre in the national capital.