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FM Sitharaman's LTCG tax remarks lift Sensex by 1,100 points. Can markets hope for a review?
The rally was driven by IT buying and hopes of a tax review, with the Sensex closing at 73,033.78 and the Nifty up 1.60%.
- On Tuesday, October 13, 2026, Indian stock markets ended sharply higher, with The BSE Sensex gaining 1,107 points or 1.54% to close at 73,033.78 and The NSE Nifty 50 rising 1.60% to settle at 22,721.95.
- IT stocks led the rally following strong quarterly earnings from HCL Technologies, bolstered by AI-related revenue and healthy deal wins, while US Treasury yields eased below 5.2%.
- Finance Minister Nirmala Sitharaman signaled the government would consider stakeholder views on the removal of LTCG tax during Budget consultations, describing the debate over STT as healthy.
- The Nifty and Sensex outperformed Bank Nifty, though gains were driven primarily by large-cap technology stocks rather than a broad-based recovery.
- While Brent crude remains elevated near $106 a barrel, a firmer currency could ease pressure on India's import bill, potentially improving the macroeconomic backdrop.
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Why did Sensex surge 1,100 points? Sitharaman’s tax remarks, IT earnings and rupee recovery explain Dalal Street's dramatic rebound
Sensex surged 1,100 points as strong IT earnings, rupee recovery and Nirmala Sitharaman’s remarks on capital gains tax fuelled hopes of a market revival, but is Dalal Street witnessing a genuine turnaround or merely a relief rally?
·Delhi, India
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Indian markets rally as IT stocks surge; Sensex jumps over 1,100 points
Market sentiment improved significantly during Tuesday’s session, although elevated crude oil prices, inflationary pressures and geopolitical uncertainties may continue to influence market movements.
·Chennai, India
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Total News Sources29
Leaning Left2Leaning Right9Center2Last UpdatedBias Distribution69% Right
Bias Distribution
- 69% of the sources lean Right
69% Right
L 16%
15%
R 69%
Factuality
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