Sensex soars over 1,400 points, Nifty crosses 11,600 mark
Equity benchmark BSE Sensex zoomed over 1,400 points on Monday, following a 1,921-point rally of Friday after the government decided to cut the corporate taxes rate. The Sensex was at 39,441 in the afternoon trade, while the broader NSE Nifty moved 359 points or 3.19 per cent higher to 11,634.
With the initial gain, the Sensex opened at 829.38 points, 2.18 per cent higher at 38,844.00. NSE Nifty also started at 11,542.70, up 268.5 points from the previous close. Top gainers in the Sensex pack index include ITC, L&T, Asian Paints, Indusland Bank, Hindustan Unilever and Maruti rallying upto 7.14 per cent.
On NSE, except for Nifty IT and Pharma, all other sub-indices were trading in green with Nifty FMCG and Nifty Private Bank up as much as 4.99 per cent.
Earlier, on Friday Indian Shares enjoyed a historic day as it registered 5.32 per cent gain, the biggest single-day gain in more than a decade after Finance Minister Nirmala Sitharaman announced deep cuts in corporate taxes to revive flagging growth in the economy.
The Sensex soared 1,921 points or 5.32 per cent to settle at 38,014.62 while Nifty ended at 11,274.20 points, up 569.40 points or 5.33 per cent.