New Delhi: Investor wealth Monday rose by Rs 10.35 lakh crore as the domestic equity market rallied for the second day following Finance Minister Nirmala Sitharaman's announcement on reduction of corporate tax and MAT rates.
Led by the spike in equities, the market capitalisation of BSE-listed companies climbed 3,52,274.43 to Rs 1,48,89,652.44 on Monday as compared to Rs 1,45,37,378.01 on Friday (September 19). In two days, the market wealth increased by Rs 10,35,213.03 as compared to Rs 1,38,54,439.41 on Thursday (September 19).
The BSE Sensex soared 1075.41 points or 2.83 percent to 39,090.03 while the NSE Nifty closed 326.00 points or 2.89 percent higher to close at 11,600.20.
On Friday itself, investor wealth rose by Rs 6,82,938.6 crore as the markets posted sharp rally. In its largest single-day jump in the last 10 years, the BSE Sensex rose 1921.15 points or 5.32 percent at 38,014.62 while the NSE Nifty zoomed 569.40 points or 5.32 percent to 11,274.20.
The government on Friday announced that corporate tax rates will be slashed to 22% for domestic companies and 15% for new domestic manufacturing companies.