The government is set to introduce the Taxation and Other Laws (Amendment) Bill, 2026, extending tax incentives for electronics manufacturing, easing rules for foreign investment funds, and offering relief for REITs, InvITs, data centres and sovereign debt investors. The proposed changes aim to boost investment, strengthen supply chains and make India’s tax regime more business-friendly.
FM Sitharaman to introduce Taxation and Other Laws (Amendment) Bill in Lok Sabha – Daily Market Update 4th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled higher in range 1.32% to 2.13%.
- European equity markets, barring FTSE, ended higher.
- Asian equity markets are trading mix.
- GIFT Nifty is little changed, Nifty futures is likely to open around 24650 levels.
The benchmark Nifty index ended higher at 24774 spot levels after adding 391 points to its previous closing values.
Buying was seen across the board as Mid and Small cap indices gained 1.21% & 1.29% respectively.
All sectoral indices, barring media that was down over 3%, ended in green. Among them, Nifty IT and Cement were at the top of the tally, gained 3.28% & 2.72% respectively followed by Pvt Bank, FMCG and Metal index that rose over 1.5% each.
Nifty index ended above the past four month long congestion range in a last minute tick and should not be taken as a decisive close. Going ahead, sustenance and a decisive close above 24600 spot levels hold the key for further upward move towards 24800 and higher levels in near term. Conversely, a fall below 24400 will confirm further consolidation for the domestic markets.
Derivatives Overview & Outlook
Yesterday, Finnifty and Midcpnifty futures added around 2% and 3% of open interest respectively as long buildup along with short covering in Nifty futures that shed 4.5% of open interest. On the other hand, no significant changes were observed in Banknifty futures on the open interest front.
Majority of sectoral indices settled higher. Amongst them, Finance, Metal and New-age stocks witnessed maximum addition of long positions along with some short covering in Technology stocks, whereas some short buildup was seen in Oil & Gas stocks.
On options front, put writing along with call addition was seen at multiple OTM strikes. Maximum positions are at 24600 CE followed by 25000 CE and 24200 PE closely followed by 24000 PE
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 922 Cr in the cash segment, bought index futures worth Rs 3618 Cr and sold stocks futures worth Rs 307 Cr. DIIs too were net buyers in the cash segment to the tune of Rs 1571 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24800-24900; Supports 24500-24400
Banknifty – Resistances 58200-58500; Supports 57500-57000
Finnifty – Resistances 27000-27200; Supports 26600- 26500
F&O stocks in ban today: None
Important Results Today: BHARTIARTL, DEEPAKNTR, GODREJPROP, MARICO, MCX, MSUMI, NHPC, ONGC, PIDILITIND, PNBHOUSING & ZYDUSWELL.
Disclosure
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