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Market Overcome Tax Fears, Sensex Rebounds 406 Points
BSE Sensex recovered on Tuesday largely on the back of value buying in blue-chip stocks such as Cipla, Reliance Industries and TCS.
The market has ended with strong gains on Tuesday. Finance Minister Arun Jaitley's statement on the tax front near the budget paved way for the gain of a market. He on Monday said that ''India now needs to move to a lower level of taxation to be globally competitive''.
Today is the second session in which market gained during the last nine consecutive trading days. All sectoral indices close with gains of over 1 percent as FMCG, metals lead the chart with top gains.
The Sensex was up 406.34 points or 1.6 percent at 26213.44. The Nifty up 124.60 points or 1.6 percent at 8032.85. About 1679 shares advanced, 862 shares declined, and 193 shares were unchanged.
25 stocks were trading higher with ITC. Tata Steel, Adani Ports, Lupin, and Sipla are the top gainers of Tuesday.
Earlier, in the morning the benchmark BSE Sensex recovered by over 81 points in opening trade today largely on the back of value buying in blue-chip stocks such as Cipla, Reliance Industries, and TCS.
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