Mumbai: The impact of corporate tax cuts also appeared in the stock market on Monday. The Sensex opened at 39,312.94, gaining nearly 1300 points. The National Stock Exchange Nifty rose 276.60 points to 11550.80. During this time, foreign institutional investors and domestic investors made fierce purchases. However, there was a slight decrease in the boom later.
At 9.55 am, the Sensex was trading at 38,703 points with a strength of about 700 points. At the same time, the Nifty gained 216 points to reach 11,491.10. On Friday, the SENSEX closed 1938 points higher at the level of 38,014. It is noteworthy that as soon as Union Finance Minister Nirmala Sitharaman announced a cut in corporate tax on Friday, the domestic market was buzzing. The market saw the biggest one day boom after a big gap of 10 years. Domestic Institutional Investors (DII) invested around Rs 3,000 crore during the full-day trading session on Friday.
According to experts, the impact of this announcement will be on the stock market for the next few weeks. This week is a derivative expiry on Thursday, September 26, so the market may remain volatile. Apart from this, all the news related to the US-China trade war will also be watched.