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Sensex rallies 383 points to end at 37,054, Nifty also jumps by 133 points

Equity Benchmark Sensex Surged Over 233 Points 36,904 In Early Trade On Monday, Which Is Seen By Experts As A Pre-poll Rally Following The Announcement Of 2019 General Election Dates

News Nation Bureau | Edited By : Assem Sharma | Updated on: 11 Mar 2019, 03:45:27 PM
Sensex rallies 383 points to end at 37,054 (file photo)

New Delhi:

Equity benchmark Sensex surged over 233 points 36,904 in early trade on Monday, which is seen by experts as a pre-poll rally following the announcement of 2019 general election dates. Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level.

The BSE Sensex started off on positive note rising 233.38 points, or 0.64 per cent, in early trade and ended 382.67 points at 37,054.10.

The broader Nifty opened at 11,068.75 and extended its rise to 11,110.95, gaining 75.55 points, or 0.68 per cent and also ended on a higher note by jumping 132.65 points at 11,168.05.

Experts said that prevailing geopolitical concerns in the wake of recent India-Pakistan military conflicts will be a key factor in the upcoming general elections that may help incumbent NDA government at the Centre.

With the Election Commission of India (EC) announcing dates for the much-awaited 2019 general elections, market analysts say a pre-poll rally is likely to continue, citing historical data which suggests a positive trend in the stock market in case the incumbent returns to power.

Last week, the 30-share Sensex settled 53.99 points, or 0.15 per cent, lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40.

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During the week, the Sensex gained 607.62 points or 1.68 per cent; and the Nifty advanced 171.9 points or 1.58 per cent. Meanwhile, Asian bourses saw mixed trading activities following the subdued last week for global equities. Hong Kong and Japan posted gains, while South Korea stocks retreated.

In contrast, Chinese stocks soared. Besides election-related developments this week, the market will watch CPI, WPI data, analysts said.  

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First Published : 11 Mar 2019, 03:45:04 PM