After surging over 3,000 points in just two sessions – Friday and Monday – the S&P BSE Sensex witnessed profit booking as the markets approached the expiry of futures & options contracts for the September series on Thursday.
At the fundamental level, analysts say the government’s move to slash corporation tax rate from 35 per cent to 25.2 per cent (including surcharge) augurs well for India Inc and investors should use the opportunity to buy quality stocks from a long-term perspective.
Just in case you missed the rally, here are the levels you need to now track for index heavyweights.