Domestic equity benchmark BSE Sensex continued to bleed on Monday as well and slumped over 900 points after the government’s proposal in Union Budget 2019 to increase the minimum public shareholding in listed companies and higher tax incidence for foreign portfolio investors.
The BSE Sensex hit the 38,000 level for the first time on Thursday on widespread buying in banking, energy and PSU stocks amid unabated inflows by domestic and foreign institutional investors.
The benchmark Sensex staged a strong comeback in early trade on Friday gaining over 250 points on widespread buying by participants in rate-sensitive realty, auto and banking stocks. The 30-share index was trading higher by 253.38 points, or 0.68 per cent, at 37,418.54.