Indian equities jump 1.6% as FM's STT remarks spark hopes of tax review

Indian equities surged 1.6% on Tuesday, marking the largest single-day gain in over two months. This increase followed remarks by finance minister Nirmala Sitharaman regarding potential changes to transaction taxes. The rally was supported by a rise in IT stocks despite ongoing concerns over crude oil prices and foreign investor selling. Short-covering ahead of expiry also contributed to the market gains.