The Nifty 50 index was up 115.55 points, or 0.61% at 19,087.65.

The media reported that the Securities and Exchange Board of India (SEBI) has delayed its decision to streamline the total expense ratio (TER) for mutual funds. This comes after receiving new data from the mutual fund industry, indicating significant economies of scale. SEBI's chairperson, Madhabi Puri Buch, reportedly stated that a revised consultation paper on TER will be released soon, hinting at less stringent proposals. The regulator had previously planned to include brokerage fees and GST on fund management fees within the TER. Changes to the commission structure for New Fund Offers (NFOs) were also not addressed. The second consultation paper is expected soon, with a final decision likely at the end of September.