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DMS -1113 Stock Market News | #dailymoneyshow
Takeaway
IT and banking pressure dragged Nifty 156 pts; family-office LTCG hike is not retail-impacting and microfinance pain is bottoming out — Fed meeting next trigger.
Summary
- Sensex -572 pts to 80,891; Nifty -156 pts to 24,680; mid cap -0.85%, small cap -1.16%, Bank Nifty -0.79%.
- TCS announced 12,000 job cuts over weekend, weakening IT sector along with similar cuts at Intel, Dell, Amazon, Microsoft; HCL Tech rumored to follow.
- Income Tax Bill 2025 social-media rumor of 18.5% LTCG only applies to family offices (Premji, Infosys family office etc), not retail investors — still pending and not official.
- Q1 bank results disappointed: HDFC mixed, Axis and Kotak weak with rising provisions, Bajaj Finance also pressured; ICICI Bank was the bright spot.
- Microfinance pain seems near end — last clean-up quarter for banks; US Fed meeting outcome Wednesday night could move Thursday market.
TCSjob cutsLTCG
Original description
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