Dalal Street Surges on RIL Rally and Potential LTCG Tax Rollback

The Indian stock market, Dalal Street, saw a nearly 2% rise, driven by a rally in Reliance Industries (RIL) shares and optimism over a potential rollback of long-term capital gains (LTCG) tax for foreign investors.

SEBI has recommended scrapping LTCG tax for foreign investors and proposed an exemption for mutual fund investors reinvesting holdings, aiming to revive equity markets.

RIL shares surged 11.6%, marking its biggest single-day gain since April 2020, contributing significantly to the Nifty 50 and Sensex gains.