Stock market today: Why are BSE Sensex, Nifty50 rallying? Top 5 reasons
Stock market rally today: At 1:30 PM, Nifty50 was trading at 23,724.00, up 283 points or 1.21%. BSE Sensex was at 76,722.16, up 1,029 points or 1.36%. The rally added nearly Rs 4 lakh crore to the combined market capitalisation of companies listed on the BSE, taking the total to Rs 486 lakh crore.
Stock market rally today: BSE Sensex and Nifty50 both surged over 1% on Tuesday, following the market's recent 7-week high. Softer oil prices, optimism around a potential review of the long-term capital gains (LTCG) tax for foreign investors, and positive corporate earnings contributed to the rally. Notable gainers included IndiGo, HDFC Bank, UltraTech Cement, Hindustan Unilever, Asian Paints, Bajaj Finance, Bajaj Finserv, and Infosys.
Reliance Industries was an exception, declining slightly after a 12% gain the previous day. Analysts suggest that these factors, along with a potential change in the LTCG tax structure, have strengthened investor confidence and further fueled the rally.
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