Equity indices surged by over 5 percent to record highs as Finance Minister Nirmala Sitharaman slashed corporate taxes and announced a Rs 1.45 lakh crore stimulus to shore up growth and investments.

The development came ahead of a crucial meeting of the Goods and Services Tax (GST) Council on whether or not to cut rates for sectors like automobile, tourism, FMCG and others which have witnessed slowdown due to economic slump.

In a major fiscal booster, the government on Friday slashed effective corporatIon tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

Making the announcement, Finance Minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1.

Mumbai: Domestic equity benchmark BSE Sensex dropped over 200 points in early session on Thursday, dragged by losses in index heavyweights Yes Bank, TCS and Infosys, amid unabated foreign fund outflow and mixed global cues.

The 30-share index was trading 206.33 points, or 0.56 per cent, lower at 36,357.55 at 0930 hours, while the broader Nifty slipped 64.65 points, or 0.60 per cent, to 10,776.

Market benchmark BSE Sensex rose 83 points on Wednesday, led by gains in energy, metal and power stocks as global crude oil prices eased and rupee recovered against the dollar.

After a rangebound session, the 30-share index ended 82.79 points, or 0.23 per cent, higher at 36,563.88. The index hit an intra-day high of 36,712.99 and a low of 36,465.92.

Mumbai: The Indian markets on Tuesday fell 300 points intra-day, amid attacks on Saudi Arabia's oil facilities over increased tension in West Asia during the weekend.

At 12.04pm, the benchmark Sensex fell 0.79% to 36,830.99, while the Nifty 50 was down 0.8% to 10,916 points.

A surge in the global crude prices on account of drone attacks on oil facilities at Saudi Arabia made investors in the equity market jittery on Monday with the benchmark Sensex shedding 900 points during the pre-open session.

Just minutes into the pre-open session, the index fell to 36,485, which was 900 points lower than Friday's close of 37,384.99.

The domestic equity market on Thursday snapped the five day winning streak as investors became cautious ahead of announcements of IIP data for July, retail inflation data for August and European Central Bank's policy meeting later in the day.

The S&P Sensex closed 166.54 points, or 0.45% lower at 37104.28 after falling 222.15 points intra-day. NSE Nifty 50 slipped below 11000-level as it closed 52.90 points, or 0.48% lower at 10982.80.

Domestic equity benchmark BSE Sensex advanced 150 points in early session on Thursday, driven by by gains in banking, metal and energy stocks, ahead of key macroeconomic data releases.

After touching a high of 37,421.13, the 30-share index was trading 129.68 points, or 0.35 %, higher at 37,400.50 at 0940 hours, while the broader Nifty rose 34.65 points, or 0.31 %, to 11,070.35.

Mumbai: Indian stock markets rose in early trade on Wednesday tracking gains in Asian equities. At 11.25 am, benchmark Sensex gained 0.4% at 37288.64 points and Nifty was up 0.4% at 11045.20 points.

The S&P BSE Mid-Cap index was up 0.71%. The S&P BSE Small-Cap index was up 1.04%. Both these indices outperformed the Sensex.

The markets rallied sharply on Friday after taking a breather in the previous session as the indices clocked their best gains of the week, but ended lower for the week. The gains came on the back of positive Asian markets amid easing US-China trade tensions. The Sensex gained 337 points or 0.92 per cent, while Nifty Index ended 98.3 points or 0.91 per cent higher at 10,946.2.

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