Indian Markets Rebound as Finance Minister Signals Openness on Capital Gains and Transaction Taxes

Indian benchmark equity indices, the Sensex and Nifty, rebounded on Tuesday following comments by Finance Minister Nirmala Sitharaman indicating openness to discussing LTCG tax and STT with market participants. The Sensex gained 1,109.10 points to close at 73,033.78, while the Nifty rose 358.60 points to settle at 22,721.95. Technology stocks, led by HCL Technologies and TCS, drove the rally, with Nifty IT recording the strongest sectoral gains. Broader markets also moved higher, though Nifty Pharma closed in negative territory.

Stock indices found their footing on Tuesday, unwinding a portion of the previous day's losses after Finance Minister Nirmala Sitharaman indicated openness to discussing tax issues tied to markets — including the long-term capital gains levy and the securities transaction tax — a development that drew a more upbeat response from trading floors. Nifty IT led all sectoral indices on the day, buoyed by a concentration of purchase activity in technology-linked counters.

Indian Markets Rebound as Finance Minister Signals Openness on Capital Gains and Transaction Taxes

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Indian Markets Rebound as Finance Minister Signals Openness on Capital Gains and Transaction Taxes

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