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.
Here are the highlights of the movement in domestic share markets (Sensex and Nifty) on September 23, 2019:
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