The SENSEX surged 1,109 points, a 1.54% rise, to close at 73,034, marking its biggest single‑day gain since March 25. The NIFTY50 climbed 1.6% or 359 points to finish at 22,722, its best day since April 15. The rally followed remarks by Finance Minister Nirmala Sitharaman at the Bloomberg New Economy Forum in New Delhi, where she said the government is keen to hear views on long‑term capital gains (LTCG) tax after investors worldwide raised questions about equity taxation. The event also highlighted debates over the securities transaction tax (STT) and uniform treatment of asset classes.

Sitharaman noted that “LTCG, something on which a lot of people are commenting… both investors within India and who meet me outside,” and added that the government is open to hearing opinions on the matter. She further mentioned that the debate includes the STT and whether different asset classes should be treated similarly, describing the discussion as healthy. The Finance Minister’s comments came as the research wing of State Bank of India urged the government to consider abolishing the LTCG tax for holdings of 2–3 years to attract hot money into Indian equities.

Investor sentiment received an additional boost when the International Monetary Fund raised its growth forecast for India to 7% for 2026, citing stronger‑than‑expected economic momentum, resilient domestic demand and robust services activity. Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said a sustained hold above 22,600 could extend the recovery toward 22,800 and 23,000, while a fall below 22,500 would weaken the breakout setup. The market breadth remained positive, with 2,128 shares ending higher and 1,418 closing lower on the NSE.

Buying pressure was evident across sectors, as all 13 of 15 major sector gauges compiled by the National Stock Exchange ended higher. The NIFTY IT index led the rally with a 5.22% gain, driven by a rotation into the anti‑AI trade after a slide in Asian chipmakers. Other sector indices such as NIFTY Bank, Financial Services, Auto, FMCG, Metal, PSU Bank, Realty and Consumer Durables rose between 1% and 2.5%. Midcap and small‑cap indices also advanced, with NIFTY Midcap 100 up 1.06% and NIFTY Smallcap 100 up 0.1%.

Within the NIFTY50, HCL Technologies emerged as the top gainer, rising 8.42% to close at ₹1,326 after reporting a 10.94% quarter‑on‑quarter jump in consolidated net profit to ₹5,132 crore, up from ₹4,626 crore in Q1 FY27. The company’s annual profit rose 21.18% YoY from ₹4,235 crore in Q2 FY26. HCL also recorded AI revenue of $219 million, a 28.4% QoQ and 78% YoY growth. Other stocks such as TCS, Infosys, BSE, HDFC Bank, Reliance Industries, Bharti Airtel, Kotak Mahindra Bank, Maruti Suzuki, Larsen & Toubro, Shriram Finance and ICICI Bank rose between 1.5% and 6.8%, while Kotak Mahindra Bank, Eternal, Maruti Suzuki and Max Healthcare were notable losers.