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MarketsIndia

Sensex jumps more than 900 points on hopes of a capital-gains tax cut, a steady Fed and softer oil

The Sensex closed at 74,151 and the Nifty at 22,937. Realty and PSU banks led the gains, while Trent and Maruti Suzuki fell.

By Rational Times Business Desk Mumbai · · 2 min read

Indian shares rallied on Thursday. The BSE Sensex closed at 74,151.04, up more than 900 points or 1.24%, and the NSE Nifty 50 ended at 22,936.75, up 1.05%, according to Kotak Neo’s closing report. The Nifty Midcap 100 gained 0.99% and the Smallcap 100 0.95%.

Why the market rose

The gains came after the US Federal Reserve held interest rates, on foreign buying, on a dip in oil prices as talk of diplomacy with Iran grew, and on reports that the government is considering a cut in long-term capital gains (LTCG) tax on shares.

On 27 October, ANI reported, citing sources, that the government is examining a restructuring of LTCG tax on equities — including a possible cut from the current 12.5% — ahead of the Budget for 2027–28. No final decision has been taken. Explained: what an LTCG cut could mean for investors.

Sectors and stocks

Realty (up 2.75%) and PSU banks (up 2.20%) led the sectoral gains, and IT rose 0.99%. Cement (down 0.08%) and auto (down 0.24%) slipped. Adani Ports, Adani Enterprises, Kotak Mahindra Bank, Eternal and Power Grid were among the top gainers; Trent, Maruti Suzuki, Bajaj Auto, SBI Life and Eicher Motors were among the losers.

Commodities

At about 3:39 p.m. IST, Brent crude for January delivery was at $110.17 a barrel and WTI for December at $101.30. On the MCX, December gold traded at ₹1,43,300 per 10 grams, down 0.28%, and silver at ₹1,91,977 per kg, down 1.21%.

The rally followed a weak session on Wednesday, when the indices fell on losses in IT stocks and a rise in oil prices.

IndiaLTCGMarketsNiftySensexStock market

Sources

  1. Kotak Neo — Sensex, Nifty 50 close higher on positive developments (29 October)
  2. ANI via Devdiscourse — Govt mulls cutting LTCG tax on equities ahead of Budget 2027-28 (27 October)
  3. Kotak Neo — Markets close lower amid IT weakness as oil rises (28 October)
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