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Total market cap jumps Rs 7 lakh crore on Friday; losses of entire year recovered in a day

Led by massive gains in auto and banking stocks, thanks to a corporate tax rate cut, Indian equity market rallied to make new records on Friday. Investors got richer by Rs 7 lakh crore, recouping almost all losses suffered this year. Maruti Suzuki saw biggest single-day intraday rally in seven years and closed 11% higher on BSE. HDFC Bank, which was the largest contributor to the Sensex rally, also helped Nifty Bank index record its largest gain ever. Sensex closed with gains of 1,921 points, topping the 38,000 level. Nifty jumped 570 points to end just shy of 11,300.

Read More at The Economic Times News date : 21 Sep 2019, Saturday

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