Celebrations are in order for the stock market brokers and investors as Sensex saw a jump of over 2,000 points on Friday after Finance Minster, Nirmala Sitharaman announced cuts in tax rates for domestic companies to 22% and for new domestic manufacturing companies to 15% including other tax relief measures.
Instantly after the big announcement the sensex shot up quickly. The domestic equity benchmark BSE Sensex which opened to a rebound of 100 points, zoomed following Sitharaman’s announcements whereas, Nifty rallied 562 points to 11,267.70. The 30-share index was trading at 119 points, or 0.33 per cent, higher at 36,212.74 at 0930 hours, while the broader Nifty rose 23.90 points, or 0.22 per cent, to 10,728.70.
People soon took to Twitter to celebrate their happiness following which #Sensex started trending on the tweeting platform.
— Akshay Harlikar (@akshayharlikar) September 20, 2019
— Tweetera🐦 (@DoctorrSays) September 20, 2019
— Godman Chikna (@Madan_Chikna) September 20, 2019
— Udit Lohiya (@UditLohiya) September 20, 2019
— Chozhalanattan (@Chozhalanattan) September 20, 2019
reduction in #Corporatetax
— CHEEKU 🌼 (@Okay_Bye___) September 20, 2019