FM Sitharaman's LTCG tax remarks lift Sensex by 1,100 points. Can markets hope for a review?

Economic Times - Oct 13, 2026

Indian equities rallied on Tuesday, with the Sensex surging over 1,100 points after Finance Minister Nirmala Sitharaman said discussions around long-term capital gains tax (LTCG) and securities transaction tax (STT) were ongoing. IT stocks also supported gains, led by HCL Tech and TCS. However, mixed broader-market trends, elevated crude prices and inflation concerns continued to temper investor sentiment.

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Encouraging a paradigm shift, Uday Kotak of Kotak Mahindra Bank calls for increased Chinese investments in India. He posits that collaborating with Chinese firms could enrich India's manufacturing sector. Kotak’s remarks signal a reassessment of global investment trends, advocating for a cooperative model akin to China’s previous engagements with U.S. companies, aiming to expand the spectrum of available capital even in the face of trade tensions.

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Oct 13, 2026
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Hitachi Energy, E2E Networks, Anant Raj, other AI-linked stocks slide up to 5% as global AI rout hits Indian markets
Oct 13, 2026
Hitachi Energy, E2E Networks, Anant Raj, other AI-linked stocks slide up to 5% as global AI rout hits Indian markets

Indian AI- and energy-linked stocks decline as a global technology sell-off deepens, with South Korea’s KOSPI plunging amid intensifying competition in the AI sector. Investors reassess AI valuations following sharp losses in Asian semiconductor stocks.

SIR Row: MoS Somanna accuses Congress of defending illegal voters
Oct 13, 2026
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Union minister V Somanna has accused the Congress of opposing the Special Intensive Revision of electoral rolls because it does not want allegedly ineligible voters removed, as the political fight over the exercise intensifies. The Congress says the revision risks disenfranchising genuine voters, while BJP and JD(S) leaders have defended it as necessary for electoral integrity and criticised the Opposition’s campaign against it.

MPSC row: Government action against chairperson marks major win for Maharashtra student protests
Oct 13, 2026
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Oct 13, 2026
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Oct 13, 2026
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Tanot Mata Temple in Rajasthan’s Jaisalmer district received more than 20,000 devotees on the opening day of Navratri. Revered as the ‘Goddess of Bombs’ because of accounts of unexploded bombs during the 1965 and 1971 India-Pakistan wars, the border shrine began its 10-day fair with traditional rituals. The BSF has arranged medical assistance, food, crowd management and other facilities for pilgrims.

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Finance Minister Nirmala Sitharaman said the RBI may take further measures to curb rupee volatility, clarifying that its aim is to stabilise the currency rather than fix its value. The rupee recorded its biggest single-day gain in six months on Monday after the central bank introduced curbs to reduce dollar demand and intervened in the market by selling dollars.

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