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Sensex Ends 1,921 Points Higher, Clocks Biggest Single-Day Gain In Over A Decade: 10 Things To Know
The Sensex zoomed to as high as 38,378.02, marking its largest single-day jump in since May 18, 2009, when it had shot up 2,110.79 points.
Domestic stock markets skyrocketed on Friday with the Sensex index clocking its biggest single-day gain in more than a decade, after Finance Minister Nirmala Sitharaman announced a cut in corporate tax rate for companies. The Sensex zoomed as much as 2,284.55 points to touch 38,378.02 during the session, hours after the Finance Minister said the effect corporate tax rate for companies will be 25.2 per cent including all additional levies. That marked the largest single-day jump in the Sensex since May 18, 2009, when it had shot up 2,110.79 points. The broader Nifty benchmark index climbed as much as 677.1 points to hit 11,381.90 – a level last seen on July 23. Analysts say the reduction in corporate tax rate is a big positive for the markets.