Sensex rallies 12% in Samvat 2075; mid, small-caps underperform

During Samvat 2075 (till October 18), the headline S&P BSE Sensex advanced 11.5 per cent, while the broader Nifty50 index has moved up nearly 10 per cent.

Weak consumption demand in the economy, vacillating trade negotiations between the United States and China, tensions in the gulf region, proposal of taxation on foreign portfolio investors (FPIs) under Budget 2019, abysmal corporate earnings and geo-political tensions between India and Pakistan post abrogation of Article 370 in Jammu & Kashmir were among the key factors that impacted sentiment at the bourses in Samvat 2075.

Still, bulls wouldn’t forget September 20 – the day when the S&P BSE Sensex vaulted over 2,000 points intra-day when government cut the corporation tax rate from 35 per cent to an effective 25.2 per cent.