Breaking: Sensex Hits Record High Of 39,200, Nifty Near 11,200

BSE Sensex soared more than 2,200 points to pass over 39,200 at one point in afternoon trade while the broader NSE Nifty benchmark climbed 597 points to pass the 11,300-mark. Sensex had last logged biggest one-day gain of 2,110.79 points on May 18, 2009 after the UPA's win in the 2009 General Election. The surge came after the Narendra Modi government in an effort to aid the domestic sector fighting economic slowdownon on Friday announced corporate tax rates to be slashed for domestic companies and for new domestic manufacturing companies.