Sensex Takes Another 4- Figure Leap

By Ravi Rathore 24-Sep-2019

The Sensex recorded one more four-digit jump to terminate above the 29,000 stamps after a dilemma of two months as investors remained hugely certain on the manager's decision to give fiscal sops to corporates thru lower taxes.

After gaining 1,400 points during the day, the Sensex closed 1,075 points higher - its fifth-biggest single-session jump ever - at 39,090. In just two sessions and after touching a six-month low at last Thursday’s close, the Sensex has now earned almost 3,000 points.
Brokers feel under the new corporate tax structure, foreign investors I should start looking at India differently than before.
However, the rebound of the day in the stock market failed to boost the national currency, which closed at a stronger rate at 70.93 per dollar. Analysts said the profit in rupees is attenuated mainly because, given the possibility of greater government indebtedness, yields have increased dramatically, which puts pressure on the currency. They also said that global economic fears and rising oil prices are affecting the currency.