Sensex jumps 1,109 points as IT stocks power market rebound
What Happened
Indian markets closed sharply higher on October 13, with the Sensex gaining 1,109.10 points, or 1.54%, to 73,033.78, while the Nifty 50 rose 358.60 points, or 1.60%, to 22,721.95. IT stocks led the gains, with the Nifty IT index jumping more than 5%.
Key Takeaways
The rebound was driven largely by strength in IT stocks and improved sentiment after Finance Minister Nirmala Sitharaman said she was open to hearing market participants’ views on LTCG tax and STT.