Wednesday, Oct 23 2019 | Time 00:10 Hrs(IST)
image
Business Economy


Sensex closes 1,921 points higher, Nifty ends at 11,274

Sensex closes 1,921 points higher, Nifty ends at 11,274

Mumbai, Sep 20 (UNI) Equity benchmark BSE Sensex enjoyed a historic day on Friday as it registered biggest one-day gain in last ten years, after Finance Minister Nirmala Sitharaman announced tax cuts to revive the economy.

At close, the Sensex added 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.

About 1823 shares have advanced, 739 shares declined, and 137 shares are unchanged.

Hero MotoCorp with 13 per cent up was the top gainer along with Eicher Motors, IndusInd Bank, UltraTech Cement and Maruti Suzuki, while Power Grid was the biggest loser (down over 2 per cent) with Zee Entertainment, Infosys, TCS and NTPC.

Earlier, Sensex jumped 2,284.55 points to reach 38,378.2 level, the biggest single-day gain since May 18, 2009, when it jumped over 2,110.79 points, after Sitharaman announced to not levy the enhanced surcharge introduced in the Budget on capital gain arising on sale of equity shares in a companies liable for securities transaction tax.

Also, the super-rich tax will not to apply on capital gains from sale of any security including derivatives in hands of foreign portfolio investors.

In another relief, the Finance Minister said listed companies which have announced buyback of shares prior to July 5 will not be charged with super rich tax.

She also slashed corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

Ms Sitharaman said the revenue foregone on reduction in corporate tax and other relief measures will be Rs 1.45 lakh crore annually.

UNI TV SB 1631

More News

Carrying, selling or purchasing with Chinese firecrackers punishable: Govt

22 Oct 2019 | 6:40 PM

New Delhi, Oct 22 (UNI) Carrying, keeping, concealing, selling or purchasing with Chinese firecrackers will be punishable under Customs Act 1962, government said on Tuesday.

see more..

Dharmendra Pradhan reviews oil and gas projects in Russian far-east

22 Oct 2019 | 6:19 PM

New Delhi, Oct 22 (UNI) Petroleum and Natural Gas Minister Dharmendra Pradhan on Tuesday reviewed oil and gas projects being undertaken in the Russian far-east, including India Russia joint collaborations.

see more..

CAIT condemns Walmart CEO letter to PM

22 Oct 2019 | 6:17 PM

New Delhi, Oct 2 (UNI) A day after Walmart CEO wrote a letter to Prime Minister Narendra Modi asking for stable business environment in India, the Confederation of All India Traders (CAIT) on Tuesday termed his letter as a pressure tactic and strongly condemned the attempt by him to intervene in India’s internal affairs and policy making.

see more..

Uttar Pradesh has SDG Index value of 42: Finance Commission

22 Oct 2019 | 5:39 PM

New Delhi, Oct 22 (UNI) Uttar Pradesh has a Sustainable Development Goal (SDG) Index value of 42, lower than the national average value of 57, said the 15th Finance Commission on Tuesday.

see more..

Rupee up 21 paise against USD

22 Oct 2019 | 5:12 PM

Mumbai, Oct 22 (UNI) The Rupee on Tuesday jumped by 21 paise to 70.

see more..
image