Sensex rises by more than 2,200 points, Nifty rises beyond 600 points

Sensex rises by more than 2,200 points, Nifty rises beyond 600 points

New Delhi. There is an atmosphere of excitement in the stock markets from the government's Friday economic announcements. The Sensex was trading up more than 2,200 points from the previous close at one time on Friday. The 30-share BSE Sensex was at 2,284.55 points at 2.30 pm. The Sensex later softened from there and at the time of writing the news, it was up by 2,058.69 points, or 5.70 percent, at 38,152.16 points. The NSE Nifty also saw a rise of over 600 points.

At the time of writing this news, it was moving at 11,305.20 points with an increase of 600.40 points or 5.61 percent. Finance Minister Nirmala Sitharaman made several important announcements to accelerate the slowing economic growth rate and to promote investment and employment generation. These announcements include reducing the effective rate of corporate tax by about 10 percent, ending the increased charge on capital gains of FPIs, increasing the social responsibility (CSR) spending of companies, etc.