Sensex gains 372 points, Nifty settles above 17,600
After a rough start, Indian stock markets bounced back on Monday—Sensex climbed 372 points and Nifty rose 0.3%, even after a steep fall on Budget day.
This quick recovery came right after the government announced higher taxes (STT) on futures and options trading in the new Union Budget.
Budget focuses on keeping spending in check
The latest Union Budget is all about keeping spending in check while supporting manufacturing, tech, farming, and tourism—stuff that could shape the economy you'll work in.
Even though STT rates went up (futures now taxed at 0.05% instead of 0.02%, options at 0.15%), investors jumped back in, spotting value buys as global cues improved and oil prices dipped.
Value buying helped markets recover from losses last week
Value buying helped markets recover from losses last week.
Calmer global vibes—like easing US-Iran tensions and cheaper crude oil—also gave investors more confidence to get back into stocks.