Mumbai: The benchmark index of the Bombay Stock Exchange (BSE)Sensex has moved up 250 points in the early hours of the trade to cross the psychological mark of 40,000.
This is the first time since July 2019, the market revisited such a higher level. The boost was driven by foreign fund inflow and hopes of tax sops for equity investors.
NSE Nifty advanced 35.85 points, or 0.30 per cent, to 11,822.70. Top gainers in the Sensex pack included Bharti Airtel, L&T, Infosys, ITC, Vedanta, HDFC Bank, Bajaj Auto, Kotak Bank and Sun Pharma rose up to 2 per cent.
The main losers were Tata Motors, Yes Bank, IndusInd Bank, Tata Steel, ICICI Bank and TCS. Foreign institutional investors were net buyers in the capital market, purchasing Rs 876.64 crore on Tuesday, while domestic institutional investors too bought shares worth Rs 144.75 crore, data available with stock exchange showed.
Rumours are high that the Government plans to review key taxes such as long term capital gains (LTCG), securities transaction tax (STT) and dividend distribution tax (DTT) before the budget.