Press "Enter" to skip to content

Sensex Jumps 1,600 Points After FinMin Sitharaman Cuts Corporate Tax Rate; Top Gainers

Indian stock market indices shot up sharply over 4% in trade on Friday after finance minister Nirmala Sitharaman slashed the corporate tax to 22% for domestic companies if they do not avail any incentive or concession.

At 11:45 am, the S&P BSE Sensex advanced 1,602.42 points, or 4.4%, to 37,695.89, while Nifty 50 rose 464.65 points, or 4.34%, to 11,169.45. Here’s a quick snapshot at what is happening on the stock exchanges today:

Market breadth: Market breadth was extremely positive. It means more number of stocks traded in the green than in the red. Of the total 2,134 stocks traded on BSE, 1,491 advanced, while 554 declined. A total of 89 stocks remained unchanged.

Top sectoral gainers: All the sectoral indices were trading in the green. The BSE Auto Index was the top gainer, up 6.65%, followed by BSE Bankex (up 5.6%) and BSE Capital Goods (up 5.2%).

Top Sensex gainers: Among the 30 Sensex stocks, Maruti Suzuki India Ltd was the top gainer, up 10.7%, followed by HDFC Bank (up 8.8%) and IndusInd Bank (up 7.5%).

Largecap stocks that rose over 5%: Apart from Maruti, HDFC Bank and IndusInd Bank, other Sensex stocks like Yes Bank, Hero Moto Corp, ICICI Bank, Larsen and Toubro, Bajaj Auto, Tata Motors, Mahindra and Mahindra, Tata Steel, Vedanta and Reliance Industries rose 5-8%.

Most actively traded stocks: HDFC Bank, Maruti Suzuki and Yes Bank were the most actively traded stocks on BSE.

Top gainers other than the 30 Sensex stocks: Jamna Auto Industries Ltd (up 12%), Shree Cement (up 11.8%), Eicher Motor (up 11%), Ashok Leyland (up 10.8%) and RBL Bank (up 10%) were among the other top gainers.

Top losers: Zee Entertainment Enterprises Ltd, HDIL, Coffee Day Enterprises, Manpasand Beverages and CG Power were down nearly 5% each.

Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.

Source: News18