Tracking firm cues from global peers, the Indian benchmarks may attempt to move higher as key resistance levels have been conquered. On Monday, the Dalal-Street witnessed broad based rally that helped Indian equities to rebound strongly. Meanwhile, the government on Monday passed Finance Bill 2015-16 which includes clarification on Minimum Alternate Tax (MAT) on capital gains, which may boost foreign institutional investors. It is estimated that the tax liability on account of MAT on capital gains could be much lower than Rs 40,000 crore estimated earlier. On the sectoral front, IT stocks will remain in focus after IT bellwether Cognizant reported a strong 6.2 per cent sequential growth in revenue at USD 2.74 billion for the March 2015 quarter, better than Indian peers including TCS, Infosys, and HCL technologies. Among others, retail stocks will also remain in focus after Kishore Biyani-owned Future Retail announced to merge its retail operations with Bharti Retail.
