New Delhi, 13 October (H.S.): The Indian stock market rebounded from its previous session’s losses and closed firmly in positive territory on Tuesday, the second trading day of the week. Remarks by Union Finance Minister Nirmala Sitharaman and a strong rally in the information technology (IT) sector helped lift both benchmark indices. The Sensex surged 1,109 points, while the Nifty advanced 358.60 points.

The BSE Sensex, the benchmark index of the Bombay Stock Exchange (BSE), climbed 1,109.10 points, or 1.54 per cent, to close at 73,033.78. Meanwhile, the Nifty 50 of the National Stock Exchange (NSE) gained 358.60 points, or 1.60 per cent, to settle at 22,721.95.

The sharp rally added more than Rs 4 lakh crore to investors’ wealth in a single trading session.

Market experts said remarks by Union Finance Minister Nirmala Sitharaman regarding long-term capital gains (LTCG) tax and securities transaction tax (STT) boosted investor sentiment, contributing to the market’s strong performance. A robust rally in IT stocks also provided significant momentum to the market.

Shares of Hindustan Unilever Limited (HUL) and Bajaj Auto registered gains of around 3 per cent each. These key factors helped strengthen overall market sentiment.

Meanwhile, the Indian rupee strengthened by 48 paise against the US dollar to close at a provisional rate of Rs 95.30 per dollar.

In the previous trading session, the Sensex had declined 547.65 points, or 0.76 per cent, to close at 71,924.68. The Nifty had also fallen 157.10 points, or 0.70 per cent, to settle at 22,363.35.

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Hindusthan Samachar / Jun Sarkar