Sensex surges over 1,300 points, regains 39,000 mark

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Mumbai: Domestic equity benchmarks cheered the government’s move to cut corporate tax rates for second session in a row and the S&P BSE Sensex surged 1,331.39 points and Nifty 50 index surpassed 11,650 mark outperforming the other Asian peers, a session after clocking the biggest single day gain in over a decade. Buying was visible across the sectors barring IT and Pharma shares. Banking, auto and consumer goods shares were among the leading gainers in markets today. Analysts said recent corporate tax reform measures announced by the government has led to the rally in markets and has boosted the investor sentiment.