From mint · A Ksheerasagar · · 1m 10s
Market Rally Driven by Tech Stocks and Policy Hopes
Indian markets rebound after HCL Tech's strong results and Finance Minister's STT review comments.
In brief
Indian markets rebound after HCL Tech's strong results and Finance Minister's STT review comments. Indian markets rose 1.54% on Tuesday as tech stocks led gains following HCL Technologies' strong quarterly results and hopes of securities transaction tax reassessment. Originally reported by mint.
Market rebound on Tuesday
Indian markets rebounded Tuesday with Nifty 50 rising 1.60% to 22,721 and Sensex gaining 1.54% to 73,033.
Technology stocks lead rally
HCL Technologies surged 8.4% after strong quarterly results, with Nifty IT index up 5.5% and TCS rising 6.8%.
Rupee recovery and RBI measures
Indian rupee strengthened to 95.28 against US dollar after RBI introduced measures to support currency.
Finance Minister's STT remarks
Finance Minister Nirmala Sitharaman said she would hear views on securities transaction tax to attract capital inflows.
Crude oil prices dip below $105
Brent crude fell below $105 a barrel as markets assessed Russian energy supplies and Houthi attacks.
FPI selling moderates
Foreign portfolio investors offloaded ₹1,708 crore on Monday but remain net sellers for 13th consecutive session.
Market sentiment improves
Stronger rupee, softer oil prices, and hopes of STT reassessment boosted investor confidence in Indian markets.
The main idea
Indian markets rose 1.54% on Tuesday as tech stocks led gains following HCL Technologies' strong quarterly results and hopes of securities transaction tax reassessment.
