Market

Markets at close: How the major indices and stocks fared on Friday

Updated : September 20, 2019 04:27 PM IST

The Sensex surged 1921.15 points, or 5.32 percent, to close Friday's trade at 38,014.62.

The Nifty50 also jumped 569.40 points, or 5.32 percent, to settle at 11,274.20.

HDFC Bank's shares settled 9.17 percent higher in trade today, quoting at Rs 1,202 on NSE.

Markets at close: How the major indices and stocks fared on Friday

Indian shares notched their best day in more than a decade after the government announced deep cuts in corporate taxes to revive flagging growth in Asia’s third-largest economy.

Finance Minister Nirmala Sitharaman said the effective corporate tax rate would be lowered to around 25 percent from 30 percent and scrapped the minimum alternative tax for domestic companies.

The tax break is the latest in a raft of measures from the government to lift the economy after growth hit a six-year low in the April-June period, mainly dragged by a slump in private investment.

Both the broader NSE Nifty and the benchmark BSE Sensex closed 5.3 percent higher, finishing the week with gains of more than 1.5 percent.

Here's a quick recap of how top market indices and stocks fared on Friday:

Frontline indices

Sensex: The Sensex surged 1921.15 points, or 5.32 percent, to close Friday's trade at 38,014.62. So far this year, the 30-share benchmark BSE index has gained 5.40 percent, rising 1946 points.

Nifty50: The Nifty50 also jumped 569.40 points, or 5.32 percent, to settle at 11,274.20. So far this year, the broader NSE index rose by 3.79 percent, adding 411 points.

Key stocks

Tata Consultancy Services: The IT major settled 1.57 percent lower, closing at Rs 2,069 per share on NSE.

Reliance Industries: The oil-telecom-retail conglomerates' shares ended 6.39 percent higher at close, quoting at Rs 1,254.35 on NSE.

HDFC Bank: The private sector lenders' shares settled 9.17 percent higher in trade today, quoting at Rs 1,202 on NSE. The bank's share was split into two with a face value of Rs 2 each on Thursday.

Hindustan Unilever: The FMCG major's stock closed at Rs 1,973.35 per share, ending 8.86 percent higher at close on NSE.

HDFC: The NBFC stock settled at Rs 2,050.65, down 3.85 percent.

Major sectors

Nifty Bank: The banking gauge settled 8.31 percent lower at 28,981.55, sharply higher by 2223.90 points at close. So far this year, Nifty Bank has gained 6.71 percent.

Nifty IT: The IT index ended 0.20 percent lower to settle at 15,491. So far this year, it has gained 7.28 percent.

Nifty FMCG: The consumer goods gauge settled 4.41 percent higher at 29,835. So far this year, Nifty FMCG has lost 5.68 percent.

Nifty Auto: The index ended 9.90 percent higher to settle at 7,605.85. So far this year, it has corrected by almost 17.65 percent.

Nifty Metal: The metal index rose 5.68 percent to settle at 2,497.65. So far this year, the index has lost nearly 21 percent.

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