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Business & Stocks Livemint Markets & Economy • Nov 02, 2026

Reliance Industries Surge and SEBI LTCG Proposal Propel Dalal Street to Best Session Since 2020

💡 Key Takeaways

•Benchmark indices surged nearly 2% following strong institutional buying and policy optimism.
•Reliance Industries recorded an 11.6% single-day jump, marking its best performance since 2020.
•SEBI's proposed Long-Term Capital Gains tax rollback boosted investor sentiment and market capitalization.

NEW DELHI [NCRBuzz Wire] — **MUMBAI [NCRBuzz Wire] — Benchmark equity indices surged nearly 2% in a powerful fiscal rally driven by an 11.6% single-day spike in Reliance Industries and reports of a potential SEBI proposal to roll back Long-Term Capital Gains tax adjustments.** **The explosive market session delivered the strongest absolute gains for Dalal Street since 2020, wiping out recent bearish momentum and expanding aggregate market capitalization significantly.** **Institutional buying intensified across key heavyweights as traders reacted to regulatory signaling and robust corporate valuation metrics.**

### Fiscal Metrics & Market Performance

**The sudden policy shift and heavyweight outperformance triggered heavy short-covering and aggressive equity accumulation across primary bourses.** **Reliance Industries anchored the market rally, scaling an 11.6% intraday jump that added billions to its overarching market capitalization.**

| :--- | :--- | :--- | :--- | :--- |

| Benchmark Sensex | 73,200.00 | 74,650.00 | +14.2% YoY | +1.98% |

| Nifty 50 Index | 22,100.00 | 22,540.00 | +16.1% YoY | +1.99% |

| Reliance Industries | ₹2,450.00 | ₹2,734.20 | +18.4% QoQ | +11.60% |

### Regulatory Dynamics & Tax Rollback Context

**Market participants responded enthusiastically to reports indicating that SEBI was deliberating structural adjustments regarding LTCG tax policies.** **The proposed rollback framework aims to soothe retail and institutional investor sentiment following heightened volatility and compliance stringency.** **Financial analysts noted that removing friction in capital gains taxation directly addresses liquidity concerns and encourages long-term domestic capital formation.**

### Corporate Earnings & Valuation Shift

**Reliance Industries' unprecedented surge reflects strong underlying operational outlooks and favorable sector positioning.** **The conglomerate's stellar performance single-handedly pulled the broader indices upward, reversing consecutive sessions of foreign institutional investor (FII) outflows.** **Market experts underscore that sustained fiscal expansion will depend on subsequent macroeconomic data releases and upcoming corporate earnings reports.**

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🏛️ Background Context

Long-Term Capital Gains (LTCG) tax on equities was reintroduced in the 2018 Union Budget, imposing a 10% levy on gains exceeding ₹1 lakh. Market stakeholders have historically lobbied against capital gains friction to sustain retail participation and FII inflows.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: Why did Dalal Street surge by nearly 2%?

The market rally was propelled by an 11.6% surge in Reliance Industries and positive market sentiment surrounding SEBI's proposed LTCG tax rollback.

Q2: What is the significance of Reliance Industries' 11.6% jump?

It represents Reliance's best single-day performance since 2020, significantly boosting aggregate market capitalization and reversing recent FII outflows.

Q3: What is SEBI's proposed LTCG tax rollback?

It is a regulatory proposal under deliberation to ease Long-Term Capital Gains tax burdens, aimed at boosting investor liquidity and market participation.

Verified Wires: Livemint Markets & Economy Original Wire Dispatch ↗

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