Sensex jumps 383 points to reclaim 37,000-mark; Nifty ends above 11,150
TIMESOFINDIA.COM | Updated: Mar 11, 2019, 15:53 ISTHighlights
- On the BSE platform, Bharti Airtel, PowerGrid, Coal India, Reliance Industries, Tata Steel and Asian Paints were among the major gainers with their stocks surging as much as 8.49 per cent
- On NSE, except for Nifty IT, all other sub-indices moved up with Nifty Metal and Auto gaining the most
(Representative image)NEW DELHI: Markets on Monday finished in green with the benchmark BSE Sensex gaining over 350 points amid a pre-poll rally following the announcement of 2019 general election dates. The 30-share BSE index closed 383 points or 1.04 per cent higher at 37,054; while the broader NSE Nifty moved 136 points or 1.23 per cent up to settle at 11,171.
On the BSE platform, Bharti Airtel, PowerGrid, Coal India, Reliance Industries, Tata Steel and Asian Paints were among the major gainers with their stocks surging as much as 8.49 per cent. 25 out of 30 stocks on BSE surged.
On NSE, except for Nifty IT, all other sub-indices moved higher with Nifty Metal and Auto gaining the most, up as much as 2.78 per cent.
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.
“This is part of an election rally and FII (foreign insitutional investor) data has been positive... There were lot of policy changes by the current government. If there is stability in policies, it is good even from a global investor’s perspective,” Anita Gandhi, whole time director, Arihant Capital Markets told news agency Reuters.
(With agency inputs)
On the BSE platform, Bharti Airtel, PowerGrid, Coal India, Reliance Industries, Tata Steel and Asian Paints were among the major gainers with their stocks surging as much as 8.49 per cent. 25 out of 30 stocks on BSE surged.
On NSE, except for Nifty IT, all other sub-indices moved higher with Nifty Metal and Auto gaining the most, up as much as 2.78 per cent.
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.
“This is part of an election rally and FII (foreign insitutional investor) data has been positive... There were lot of policy changes by the current government. If there is stability in policies, it is good even from a global investor’s perspective,” Anita Gandhi, whole time director, Arihant Capital Markets told news agency Reuters.
(With agency inputs)
Download The Times of India News App for Latest Business News.
more from times of india Business
LATEST VIDEOS
All Comments ()+^ Back to Top
Refrain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. Help us delete comments that do not follow these guidelines by marking them offensive. Let's work together to keep the conversation civil.
HIDE