Stock Markets Extend Rally After Corporate Tax Cut

Domestic equity benchmarks cheered the government's move to cut corporate tax rates for the second session in a row, with the S&P BSE Sensex index surging 1,331.39 points in early trade on Monday outperforming Asian peers. The broader NSE Nifty 50 benchmark surpassed the 11,650 mark, after clocking the biggest single-day gain in over a decade last Friday. Buying across sectors barring IT and pharma shares pushed the markets higher, with banking, auto and consumer goods stocks being the top gainers. Corporate tax announcements by the government have led to the rally in markets and boosted the investor sentiment, say analysts.

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