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Indian stocks surge after Sitharaman to hear views on capital gains tax

The Nifty 50 rose 1.6% to close at 22,721.95, its biggest single-day gain since Aug. 3, after sustained foreign selling had weighed on sentiment.

Reported · Written up by our desk · India

Indian equities rallied Tuesday after Finance Minister Nirmala Sitharaman said the government would hear investor views on capital gains taxation, helping lift sentiment in a market that has been hit by sustained foreign selling, according to LiveMint Markets. Sitharaman made the comments while speaking at the Bloomberg New Economy Forum in New Delhi, addressing questions raised by Indian and foreign investors about long-term capital gains tax, the securities transaction tax, and whether different asset classes should be taxed similarly, the outlet reported. The report said the Nifty 50 posted its biggest gain in over two months, rising 1.6% to close at 22,721.95 on Tuesday, while the Sensex gained 1.5% to settle at 73,033.78. LiveMint Markets added that while the remarks boosted sentiment, no policy change was signaled.

Latest closeSensex 72,638.70 ▼0.6%

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