As Sensex, Nifty zoom, investor wealth surge by this much in two sessions

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Updated: September 23, 2019 7:02:24 PM

While the 30-share BSE Sensex soared 1,075.41 points, or 2.83 per cent, to close at 39,090.03, NSE Nifty zoomed by 326 points or 2.89 per cent to end at a two-month of 11,600.20.

Sensex, market, market news, corporate tax cut, corporate tax, corporate tax rate, corporate tax in india, corporate tax rate india, Narendra Modi, nirmala sitharaman, financial express, financial express opinion, corporate tax rate 2019, corporation tax rate, BSE, BSE auto, BSE Bankex, Maruti Suzuki, Hero Motcorp, HDFC Bank, IndusInd Bank, State Bank of IndiaWhile the 30-share BSE Sensex soared 1,075.41 points, or 2.83 per cent, to close at 39,090.03, NSE Nifty zoomed by 326 points or 2.89 per cent to end at a two-month of 11,600.20.

Amid positive market sentiment, the wealth of the investors soared for the second trading session in a row even as benchmark indices — Sensex and Nifty — scripted new highs on Monday. The m-cap of BSE-listed companies was Rs 1,38,54,439.41 crore, up by Rs 10.35 lakh crore in two sessions, after Finance Minister Nirmala Sitharaman announced a slew of fresh economic reforms to boost the sagging economy. While the 30-share BSE Sensex soared 1,075.41 points, or 2.83 per cent, to close at 39,090.03, NSE Nifty zoomed by 326 points or 2.89 per cent to end at a two-month of 11,600.20.

“The Indian benchmark indices started the expiry week on a strong note buoyed by improved domestic sentiments post a slew of measures by the government last week. The markets registered second straight session of healthy gains, despite unsupportive global cues,” Ajit Mishra, vice president, research, Religare Broking Ltd said.

Also read: Govt reforms positive, but trade war needs to be closely watched, says IIFL Wealth’s Anirudha Taparia

“The undertone continues to remain bullish however, nifty may consolidate near 11,700-11,800 mark for few sessions going ahead. Mid and small caps are likely to catch in a big way going ahead. 11,400 zone is the near term support and traders should look to position on the long side,” Amit Shah, Technical Research Analyst with Indiabulls Ventures.

Meanwhile, the rupee was trading flat at 70.92 against US dollar. The brent crude futures fell 0.79 per cent to $63.77 per barrel. The market breadth was positive as 1,638 scrips advanced at BSE while 972 stocks declined.

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