Sensex up 2000 points, investor wealth soars

September 20, 2019 14:06

The BSE Sensex advanced over 2000 points to a high of 38,094, while the Nifty crossed 600 points at 2 pm, while domestic investor wealth soared by Rs 2.11 lakh crore in morning trade on Friday as equity market rallied following a slew of economy-boosting announcements by Finance Minister Nirmala Sitharaman.

Led by the spike in equities, the market capitalisation of BSE-listed companies climbed Rs 2,11,086.42 crore to Rs 1,40,79,839.48 crore in the immediate aftermath of the announcement.

From the 30-share Sensex basket, barring NTPC, all other 29 scrips were trading in the green led by Tata Steel, Maruti Suzuki India, HDFC Bank and Yes Bank, which were trading with gains of up to 5.7 per cent.

The rupee also rallied 66 paise to 70.68 against the US dollar on announcements made by the finance minister.

In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

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