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Informist, Thursday, May 14, 2026

By Arundathi A R

MUMBAI – Benchmark indices closed higher for the second session Thursday with gains of over 1% each, tracking the news of India's plan to reduce tax paid by foreign investors on bond investments. The Nifty 50 index closed above the 23600 level, with only 11 stocks in the negative territory. The rupee paring losses against the dollar, with crude oil prices staying steady, helped the rally. The Nifty 50 closed at 23689.60, up 277 points or 1.2% higher. The BSE Sensex ended at 75398.72, up 789.74 points or 1.1%.

According to a Bloomberg report, India is considering a significant reduction in taxes paid by foreign investors on Indian bond investments to facilitate foreign inflows and align policies with global norms. The proposal recommended by the Reserve Bank of India is being considered by the finance ministry, the report said, citing sources.

In the broader market, mid-cap indices ended over 1% higher in line with the benchmark peers. Small-cap indices, except the Nifty Smallcap 100, closed higher with marginal gains. Barring the Nifty IT, all sectoral indices gained in the session.

Pharmaceutical and healthcare companies mainly helped the 50-stock index to log higher gains. Cipla was among the top gainers in the index, closing over 8% higher. The stock was up for the second session after most brokerages turned positive on the stock post the release of the March quarter results and management's comments. Dr. Reddy's Laboratories ended 3% higher after declining for five straight sessions. Max Healthcare Institute ended 2% higher. The Nifty Pharma index was the biggest gainer among the sectoral indices, closing 2.7% higher. Nifty Healthcare followed closely, ending 2.6% higher. 

The rupee ended Thursday at a record closing low of 95.7625 a dollar. At 1603 IST, Brent crude oil July futures were slightly lower at $105.31 per barrel. More