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Stock Market Today: Nifty Crosses 22,700 as Sitharaman’s LTCG, STT Remarks Boost Sentiment

Posted on 13th Oct 2026 04:51 pm by rohit kumar

The Indian stock market staged a strong rally on Tuesday, October 13, 2026, as heavy buying in information technology (IT) shares lifted benchmark indices. The BSE Sense* jumped 1,109.10 points, or 1.54%, to close at 73,033.78, while the NSE Nifty 50 gained 358.60 points, or 1.60%, to settle at 22,721.95.

 

The rally was supported by strong quarterly results from major IT companies, buying in select stocks, improving currency sentiment and investor attention on Finance Minister Nirmala Sitharaman’s comments about equity taxation. The Nifty IT index emerged as a key outperformer, rising more than 5% during the session. Source: Reuters

 

Stock Market Highlights: October 13, 2026

 

Sense* closing: 73,033.78, up 1,109.10 points

 

Nifty 50 closing: 22,721.95, up 358.60 points

 

Nifty IT: Rose more than 5%

 

Top-performing stocks: HCLTech, TCS, Shriram Finance, Tech Mahindra and Infosys

 

India VIX: Reported to have declined sharply, indicating lower expected near-term volatility

 

The strong close reflected broad-based buying, although some banking, healthcare, energy and automobile stocks did not participate in the rally.

 

Why Did the Stock Market Rally Today? Five Key Reasons

 

1. IT Stocks Lead the Market Rally

 

Buying in IT shares was one of the biggest drivers of the October 13 market rally. HCLTech, Tata Consultancy Services (TCS), Tech Mahindra and Infosys were among the major gainers, helping lift the Nifty IT index.

 

HCLTech attracted investor attention following its latest quarterly results, which showed improved profitability and continued momentum in artificial intelligence-related business. TCS also advanced following its recent earnings update.

 

Reuters reported that HCLTech rose approximately 8.4% and TCS gained around 6.8% during the session. These gains helped support the broader market as investors reassessed the near-term outlook for Indian IT services companies. Source: Reuters

 

2. LTCG and STT Comments Draw Investor Attention

 

Finance Minister Nirmala Sitharaman’s remarks on Long-Term Capital Gains (LTCG) tax and Securities Transaction Tax (STT) also attracted attention from market participants.

 

Investors have raised questions about equity taxation, and Sitharaman indicated that their views could be considered during budget consultations. Market reports identified these comments as one factor supporting sentiment.

 

However, the government did not announce any immediate reduction or removal of LTCG tax or STT. Investors should distinguish between the possibility of future discussions and a confirmed policy change.

 

3. Value Buying Supports Select Stocks

 

Buying interest also extended beyond the IT sector. Realty, metal, public-sector bank, automobile and consumer-durable stocks recorded gains, according to the session's market data.

 

Realty shares attracted buying interest as investors looked for opportunities in stocks that had faced pressure previously. However, a one-day rise does not necessarily establish a sustained recovery, and stock performance varied across individual companies.

 

4. India VIX Declines

 

India VIX, commonly known as the market's volatility gauge, reportedly fell by around 7.5% to 14.12.

 

The index measures the market's expectations of near-term volatility based on Nifty options prices. A fall generally indicates reduced expected volatility, but it does not guarantee that the market will remain positive or that selling pressure has disappeared.

 

Investors should consider India VIX alongside market breadth, trading volumes, global cues and corporate earnings rather than treating it as a standalone signal.

 

5. Currency and Global Market Factors

 

Currency movements and broader global developments also formed part of the market backdrop. Reuters reported that the Indian rupee strengthened to around ₹95.28 per US dollar, supported by measures introduced by the Reserve Bank of India to ease pressure on the currency.

 

A stronger rupee can have mixed effects across sectors. It may ease some import-related costs while reducing the rupee value of overseas revenue for exporters. For IT companies, currency movements are only one of several factors influencing earnings expectations.

 

Shriram Finance also attracted attention after reports of possible acquisition interest from Japan's Mitsubishi UFJ Financial Group. Such reports can influence stock prices, but investors should look for official disclosures before treating a potential transaction as confirmed. Source: Reuters

 

Which Stocks Declined?

 

Despite the strong benchmark rally, several stocks ended lower. The session's reported laggards included Eternal, Kotak Mahindra Bank, Max Healthcare, Power Grid Corporation and Maruti Suzuki.

 

This divergence highlights an important point: a rise in the  and Nifty does not mean every stock is advancing. Individual earnings, valuations, sector trends and company-specific developments can cause share prices to move in different directions.

 

Which Sectors Performed Well?

 

Nifty 50 Technical Outlook: Key Support and Resistance Levels

 

Market analysts highlighted the 22,350–22,400 area as an important support zone in the supplied technical outlook. A sustained move below this range could weaken the short-term chart structure, while holding above it may keep the possibility of further recovery open.

 

The 22,600 level was identified as a potential upside reference in that analysis, although the Nifty's October 13 close of 22,721.95 was already above it.

 

Technical levels are estimates based on price patterns and market behaviour, not guaranteed turning points. Investors should reassess them as new trading sessions develop and avoid making decisions based on a single indicator.

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