The Indian stock market rose on Thursday with the BSE Sensex rising over 160 points. Healthy buying was witnessed in IT stocks.
Around 10.10 a.m., Sensex was trading at 54,690.70, higher by 164.77 points or 0.30 per cent from the previous close of 54,525.93 points. It opened at 54,641.22 and has touched an intra-day high of 54,724.20 and a low of 54,536.65 points.
The Nifty50 on the National Stock Exchange was trading at 16,332.00, higher by 49.75 points or 0.31 per cent from its previous close. Tech Mahindra, Power Grid and HCL Technologies were the top gainers on the Sensex, while the major losers were IndusInd Bank, Sun Pharmaceuticals and Bharti Airtel.
Analysts said the major cues for the market will be provided by the industrial production data (June) and the retail inflation data for July scheduled to be released later in the day.
The mid and smallcap stocks turned green on August 12 after Monday's panic selling when BSE introduced a new surveillance rule 'Add-on Price Band Framework' under which certain securities would be subjected to weekly, monthly and quarterly price limits in addition to their daily price bands.
The NSE, however, on August 11 clarified on framework will apply to BSE-exclusive securities in groups X, XT, Z, ZP, ZY and Y. It said the securities should have a price of Rs 10 and more as on the review date and the market capitalisation of the security should be less than Rs 1,000 crore. This has comforted the market as the mid and smallcap indices turned green on August 12.
