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Share Market highlights: Sensex sees biggest ever one-day gain, ends 1,921 points up

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FM Nirmala Sitharaman Announces package of 70 thousand crore for export and housing sector

Share market highlights: The headline indices Sensex and Nifty registered their biggest single day gain ever, after FM’s mega tax cuts. The Sensex ended 1,921 points higher at to 38,014 while the Nifty closed near the 11,300-mark, posting their biggest one-day gain ever. Heromotocorp, Maruti Suzuki, IndusInd Bank, Bajaj Finance were among the biggest gainers, gaining up to 12.50%. Finance Minister Nirmala Sitharman has cut corporate tax to 22% (effective maximum tax rate 25.17%) for Financial Year 2019-20 subject to condition that such companies will not avail any exemption/incentive. Further, Minimum Alternative Tax (MAT) has been abolished for domestic firms availing the lower new rate of tax. Asian share prices inched higher on Friday as economic stimulus around the world eased fears of economic deceleration while crude oil prices climbed on concerns that last weekend's attacks on Saudi Arabia's oil facilities still pose supply risks, Reuters reported. We bring to you highlights.