INSUBCONTINENT EXCLUSIVE:
Sensex, Nifty today: The SGX Nifty futures were last seen trading 1.27% higher on the Singapore ExchangeDomestic stock markets started
Monday's session sharply higher, shrugging off weakness in Asian peers and extending gains to a second straight day after the government
decided to cut the corporate tax rates
The S-P BSE Sensex index rose as much as 1,331.39 points to 39,346.01 in early trade, and the broader NSE Nifty benchmark moved to
11,666.35, up 392.15 points from the previous close
Gains across sectors expect IT and pharma - led by banking, auto and consumer goods shares - pushed the markets higher
At 9:21 am, the Sensex traded 1,045.98 points - or 2.75 per cent - higher at 39,060.60, while the Nifty was up 295.45 points - or 2.62 per
Top percentage gainers on the 50-scrip index at the time were ITC, Larsen - Toubro, IndusInd Bank, Britannia, ICICI Bank and Asian Paints,
trading between 5.07 per cent and 8.28 per cent higher
Last Friday, the S-P BSE Sensex index had surged 1921.15 points - or 5.32 per cent - to end at 38,014.62, in its best single-day gain in
past 10 years.Advance-Decline Ratio Favours GainsMarket breadth favoured gains, with an advance-decline ratio of nearly 3:1
On the Bombay Stock Exchange (BSE), 1,376 stocks traded higher while 552 moved lower
the gains in the first hour of trade
On the other hand, the Nifty IT and Pharma indices were down 2.37 per cent and 1.31 per cent respectively.ITC, Britannia, L-T, HDFC Bank Top
GainersAt 9:21 am, the S-P BSE Sensex index traded 1,045.98 points - or 2.75 per cent - higher at 39,060.60, while the broader NSE Nifty
the time were ITC, Larsen - Toubro, IndusInd Bank, Britannia, ICICI Bank and Asian Paints, trading between 5.07 per cent and 8.28 per cent
Prabhakar"A mega bull market is starting now on the back of the reforms of the century for India I don't think we will be looking back
anytime soon," AK Prabhakar, head of research at IDBI Capital, told TheIndianSubcontinent
"ITC has got a triple bonus, in the form of the ban on e-cigarettes, the cut in corporate taxes and the reduction in GST on hotel room
Minister Nirmala Sitharaman said on Twitter that the government's move on corporate tax has sent a positive message "not just in India"
the tax rate applicable to hotel room tariffs
Finance Minister Nirmala Sitharaman said the GST on caffeinated beverages was hiked to 28 per cent plus additional cess of 12 per cent as
against the existing rate of 18 per cent.For hotels, she announced nil tax for those with tariffs of up to Rs
7,500 per night room tariff would be levied with 12 per cent tax as against the existing 18 per cent.Asian Markets Down Amid Renewed
Concerns About US-China Trade WarEquities in other Asian markets moved lower, with MSCI's broadest index of Asia Pacific shares except
Japan last seen trading 0.49 per cent lower
Last Friday on Wall Street, shares fell after a Chinese agriculture delegation cancelled a planned visit to Montana, dampening optimism
about US-China trade talks
Friday, the S-P BSE Sensex index had surged 1,921.15 points - or 5.32 per cent - to end at 38,014.62, in its best single-day gain in past 10
