Sensex up by 150 points in early trade; Nifty over 10,000
Sensex
Domestic equity benchmark BSE Sensex up by 150 points in early trade on Monday.
The 30-share index was trading 36,885.92 at 9:30am.
Similarly, the broader NSE Nifty above 10,000.
On Friday,Finance minister Nirmala Sitharaman announced a big rollback on taxation assertingthat there would be no surcharge on long and short term capital gain.
Addressing a press conference, the finance minister said GST returns will be simplified even further. Sitharaman added that there would be nosurcharge for FPI and domestic investors in the market.
"Friday's announcement is a turning point for domestic market. It could have been better if the global factors were also accommodating," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai.
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Shares of Yes Bank Ltd and Indiabulls Housing Finance Ltd were among the top gainers on the NSE Nifty, rising over 3% each.