Sensex Ends 1,075 Points Higher As Markets Extend Rally To Second Day: Highlights
Domestic stock markets registered sharp gains on Monday, extending a rally after the government announced its decision cut the corporate tax rates to a second straight day. The S&P BSE Sensex index rose as much as 1,426.5 points - or 3.75 per cent - to 39,441.12 during the session - a level last seen on July 8 this year. The broader NSE Nifty benchmark climbed to as high as 11,694.85, up 420.65 points - or 3.73 per cent - from the previous close. Gains across sectors except IT and pharma - led by banking, auto and consumer goods shares - pushed the markets higher. HDFC Bank, HDFC, ICICI Bank and ITC contributed a total 730 points to the surge in Sensex. Corporate tax announcements by the government have led to the rally in markets and boosted the investor sentiment, say analysts.