CORPORATE WORLD

Sensex zooms 1,921 pts on FM's tax booster

Agency, Mumbai
21/09/2019   0 Comments

Domestic equity benchmark BSE Sensex vaulted 1,921 points on Friday, fuelled by a slew of economy-boosting measures announced by Finance Minister Nirmala Sitharaman.


Logging its biggest intra-day spike in over a decade, the 30-share index soared 2,284.55 points to a peak of 38,378.02, before settling 1,921.15 points or 5.32 per cent higher at 38,014.62.

Similarly, the broader NSE Nifty zoomed 569.40 points or 5.32 per cent to end at 11,274.20.

Bulls took over the market after the government slashed corporate tax rates for companies by almost 10 percentage points to 25.17 per cent to bring them at par with Asian rivals such as China and South Korea.

The finance minister also said the government will not levy the enhanced surcharge introduced in the Budget on capital gains arising on sale of equity shares in a companies liable for securities transaction tax.
 

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