RIL's best day since 2020, Sebi’s LTCG rollback proposal lift Dalal Street
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Dalal Street indices rose nearly 2% on Monday as Reliance Industries shares saw their biggest jump since April 2020.
- ✓Optimism grew after Sebi proposed a rollback of long-term capital gains tax for foreign investors.
- ✓Nifty 50 closed at 23,440.80, while Sensex ended at 75,692.78, signalling a strong market recovery.
Story at a Glance
- Category
- MARKET
- Reported By
- Livemint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
A rally in Reliance Industries (RIL) shares and growing optimism over a possible rollback of long-term capital gains (LTCG) tax for foreign investors gave Dalal Street plenty to cheer about on Monday, lifting both benchmark indices nearly 2%. Buying picked up through the session, with RIL stock seeing its biggest intraday upmove since April 2020.
Sebi has recommended scrapping LTCG tax for foreign investors as India seeks to revive its underperforming equity markets, Reuters reported on Monday. The market regulator has also proposed an LTCG exemption for mutual fund investors who sell existing holdings to reinvest in other funds, the report said.
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