The Bombay Stock Exchange Sensex closed at 26,394, 44 points up, while the National Stock Exchange Nifty was nudged above 8,100 points during Tuesday’s trade. The indices responded to tax law amendments by the central government and a decline in stock markets in the United States on Monday, NDTV reported. Shares of automobile and industrial companies were among the top performers of the day.

Tata Steel was among the top gainers, rising 1.25% after the company on Monday said it had signed an agreement to start negotiations for the sale of its United Kingdom-based Specialty Steels business. Other winners included Bharat Financials Inclusion Pvt Ltd, Muthoot Finance Ltd, Berger Paints Ltd, DHFL Ltd and Idea Cellular. Share values of Mangalore Refinery & Petrochemicals Ltd, Raymond Ltd and Oberoi Realty witnessed a drop.

Markets responded positively to markets in the United States showing their worst performance in nearly a month. Investor sentiment was also affected by the Centre’s introduction of amendments in the Taxation Laws (Second Amendment) Bill, 2016. Under the amendments, people with undisclosed income can come clean by paying 30% tax on the amount along with 10% penalty and 33% surcharge. Such declarants will also have to put down 25% of the amount in an interest-free deposit scheme for four years.