Sensex jumps 1,109 points, its best day in four months, as IT shares surge and the finance minister leaves the door open on capital-gains tax
The Sensex rose 1,109.10 points, or 1.54 per cent, to close at 73,033.78, its best single-day gain in four months (The Hindu); NDTV and the Times of India put the gain above 1,100 points. The Times of India's closing estimate of investor wealth added is ₹4.12 lakh crore, up from ₹3.89 lakh crore earlier. IT shares led: The Hindu names TCS, Tech Mahindra, Infosys and HDFC Bank among the winners, and Upstox says the Nifty IT index rose about 5 per cent, with HCLTech, whose second-quarter net profit rose 21 per cent to ₹5,132 crore (The Hindu), among the leaders. Finance Minister Nirmala Sitharaman said she is open to hearing views on removing the long-term capital gains tax as Budget 2027 consultations begin (Moneycontrol, NDTV Profit, The Economic Times); the Times of India says she made no commitment. The rupee closed 40 paise higher at 95.38 (The Hindu, single source). Food inflation rose to 7.74 per cent in September (Hindustan Times).
A one-day jump of this size shows how much Indian shares react to hints on tax and to results from the IT sector. The capital-gains tax is a cost on every investor who sells at a profit, so even a hint moves prices.
If you hold shares or mutual funds, one strong day is not a trend and nothing in the tax has changed yet. Dearer food, such as onions, is the cost you will notice first at home.
Those who want the tax gone argue that it discourages long-term holding and hurts household savers.
The Times of India stresses that the minister made no commitment, so any change would have to be decided in the Budget.
The rally rests on a remark, not a decision. Watch the Budget consultation, whether IT shares keep their gains after Asia's chip sell-off, and whether the rupee holds near 95. The rupee close is one outlet's figure and the 73,033.78 level is The Hindu's.
DailyDrop India edition No. 10 · Morning · WED., OCT. 14, 2026