Share Market: Stock markets rebound, led by rally in IT firms, HDFC Bank; Sensex jumps 1,109 points

Indian equity benchmark indices, BSE Sensex and Nifty50, surged significantly during Tuesday’s session, increasing by over 1% in the afternoon. Finance Minister Nirmala Sitharaman’s remarks on long-term capital gains (LTCG) tax and securities transaction tax, coupled with a surge in IT stocks and additional influences, boosted investor confidence.

BSE Sensex closed the day at 73,033.78, gaining 1,109 points or 1.54%. Nifty50 ended at 22,721.95, gaining 359 points or 1.60%. This surge contributed over Rs 4.12 lakh crore to the overall market capitalisation of listed firms, raising the total to Rs 470 lakh crore.

IT firms topped the increases among Sensex members. HCL Tech stocks rose over 5% after the firm’s second-quarter performance, while TCS, another major player in the industry, gained approximately 5%.Tech Mahindra and Infosys also rose by approximately 3% each.