From The Economic Times · Debaroti Adhikary · · 1m 50s
Stock Market Action Wednesday
Key factors to watch as markets react to Tuesday's rebound.
In brief
Key factors to watch as markets react to Tuesday's rebound. Indian equity benchmarks rebounded 1.5% after Finance Minister Nirmala Sitharaman's tax comments, boosting market sentiment and capitalisation to Rs 470 lakh crore. Originally reported by The Economic Times.
Market Rebound
Indian equity benchmarks Sensex and Nifty staged a sharp rebound on Tuesday, jumping more than 1.5% each after Finance Minister Nirmala Sitharaman’s comments on LTCG tax and securities transaction tax.
Market Performance
Sensex jumped 1,109 points to close at 73,034, while the Nifty climbed around 359 points to end the session at 22,722.
Capitalisation Boost
The sharp gains added around Rs 5 lakh crore to the total market capitalisation of all companies, pushing it up to Rs 470 lakh crore.
Broader Market Recovery
Broader markets also erased all early losses and swung into the green, with the Nifty Midcap 100 jumping more than 1% while the Nifty Smallcap 100 closed with marginal gains.
Analyst Insights
Vinod Nair, Head of Research at Geojit Investments, noted stronger-than-expected technology earnings boosted confidence in corporate profit growth and lifted benchmark-heavy large-cap stocks.
US Market Activity
Wall Street’s main indexes were little changed in choppy trading on Tuesday as chip stocks faced renewed selling pressure and investors assessed mixed quarterly results from major US banks.
US Index Details
At 10:20 a.m.ET, the Dow Jones Industrial Average rose 9.14 points, or 0.02%, to 51,859.69.The S&P 500 fell 6.36 points, or 0.08%, to 7,800.86, while the Nasdaq Composite declined 32.52 points, or 0.12%, to 27,213.38.
Most Active Stocks
HCL Tech (Rs 2,818 crore), TCS (Rs 2,474 crore), Infosys (Rs 2,283 crore), RBL Bank (Rs 1,530 crore), Paytm (Rs 1,527 crore), BSE (Rs 1,377 crore) and HDFC Bank (Rs 1,343 crore) were among the…
What to remember
Indian equity benchmarks rebounded 1.5% after Finance Minister Nirmala Sitharaman's tax comments, boosting market sentiment and capitalisation to Rs 470 lakh crore.
