Dynamite News
Sensex soars over 600 pts on FPI surcharge rollback
Domestic equity benchmark BSE Sensex rallied over 662 points in opening session on Monday after the government rolled back the enhanced surcharge on foreign portfolio investors, and unveiled a slew of measures to boost the economy.
Mumbai: Domestic equity benchmark BSE Sensex rallied over 662 points in opening session on Monday after the government rolled back the enhanced surcharge on foreign portfolio investors, and unveiled a slew of measures to boost the economy.
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The 30-share index, however, pared some gains as investors began booking profits at higher levels. The index was trading 245.71 points, or 0.67 per cent, up at 36,946.87 at 0930 hours. The broader Nifty too surged over 170 points to briefly reclaim the 11,000 mark, but gave up some gains to trade 67.30 points, or 0.62 per cent, higher 10,896.65 in early trade.
In the previous session, the BSE barometer closed higher by 228.23 points or 0.63 per cent at 36,701.16, and the Nifty rose 88 points or 0.82 per cent to settle at 10,829.35.
Foreign portfolio investors sold shares worth a net of Rs 1,737.20 crore on Friday, while domestic institutional investors purchased shares worth Rs 1,548.49 crore, provisional data showed.
Also Read: Rupee at 72 per dollar hits lowest level since December
The rupee, meanwhile, depreciated 33 paise against its previous close to trade at 71.99 in early session. (PTI)