The key Indian equity indices traded in the green on Thursday morning with the BSE Sensex gaining over 200 points. Healthy buying was witnessed in metal and IT stocks.
Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex. Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.
It opened at 52,693.53 and has so far touched an intraday high of 52,708.72 and a low of 52,563.12 points. The Nifty50 on the National Stock Exchange was trading at 15,777.10, higher by 67.70 points or 0.43 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The markets are trading around the midpoint of the current range which is in between 15,400-15,900. The volumes are soft and the momentum is spiritless. Until we do not get past either of the two levels, the Nifty will not witness a significant move."
RBI allows card networks for RTGS, NEFT
Meanwhile, the Reserve Bank of India (RBI) has decided to allow payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems.
This would be the first phase of its plan to bring non-banks in the same platform. In April, RBI had said that it would encourage participation of non-banks in Reserve Bank of India-operated Centralised Payment Systems (CPS) -- RTGS and NEFT systems -- in a phased manner.
Direct access for non-banks to CPS lowers the overall risk in the payments ecosystem. It also brings advantages to non-banks like reduction in cost of payments, minimising dependence on banks, reducing the time taken for completing payments, eliminating the uncertainty in finality of the payments as the settlement is carried out in central bank money among others.
The risk of failure or delay in execution of fund transfers can also be avoided when the transactions are directly initiated and processed by the non-bank entities.
"On a review of extant arrangements and after detailed discussions with Payment System Providers (PSPs), it is advised that, in the first phase, authorised non-bank PSPs, viz. PPI Issuers, Card Networks and White Label ATM Operators shall be eligible to participate in CPS as direct members," it said in a circular.