Sensex up 1,300 points, Nifty reclaims 11,500

Indian markets continued their rally for second consecutive day, after Finance Minister Nirmala Sitharaman announced the tax cuts for the corporates on Friday morning.

The benchmark Index of BSE – Sensex opened 829 points higher on Monday at 38,844.00 points, before rallying further by 1,331 points. However, after peaking the index witnessed a sell-off and was trading at 38,871.13, higher by 856.51 points (2.25%). All the indices on BSE, except for the IT and media index, were trading in green.

Similarly, the broader index NSE Nifty50 was trading 11,528.50 points, higher by 254.30 points (2.26%).

On the other hand the bond rates moderated a bit with yield 10-year G-sec falling to 6.753%, down by almost 0.03 basis points.