Stock Market Today (Image Source: PTI)
\n\nIndian stock market benchmarks staged an early recovery on Wednesday after opening in the red, as expectations of a possible review of Long-Term Capital Gains (LTCG) tax and Securities Transaction Tax (STT), along with easing institutional selling, offered some support to investors. However, uncertainty in global markets, elevated crude oil prices and rising US bond yields continued to limit optimism.
\n\nThe BSE Sensex initially dropped 116.42 points, or 0.16 per cent, to 72,917.36, while the NSE Nifty 50 slipped 30.85 points, or 0.14 per cent, to 22,691.10 at the opening bell. GIFT Nifty also signalled a cautious start, trading at 22,709.50, down 141 points, or 0.62 per cent.
\n\nThe recovery followed a strong rally in the previous session, although market experts cautioned that the rebound may face challenges unless domestic and international conditions improve.
\n\nV K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said the Nifty's sharp advance on Tuesday was unexpected given the broader market's downward trend. He attributed much of the recovery to traders closing their bearish positions. "The 358 point sharp rally in the Nifty yesterday, in an otherwise weak down trending market, came as a bit of a surprise,"…
Original source: https://www.timesnownews.com/business-economy
