Sensex reclaims 40k on tax rejig buzz, global cues; Nifty ends at 11,844

Experts said the reduction in corporation tax has helped revival of corporate earnings.

The benchmark Sensex on Wednesday closed above the 40,000-mark as hopes of favourable reform measures by the government kept the mood buoyant. 

Steady global indices, ahead of the US Fed’s monetary policy decision — where the central bank was widely expected to cut rates — also helped sentiment. 

Advancing for the fourth straight session, the Sensex closed at 40,052, up 220 points, or 0.6 per cent. 

The blue-chip company index took 98 sessions to reclaim the 40,000-mark, which it had first reached in early June. 

The Nifty gained 57 points, or 0.5 per cent, to close at 11,844. It is 2 per cent away