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Sensex soars 233 points in early trade

Press Trust of India  |  Mumbai 

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 dates.

Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level.

The started off on positive note at 36,741.57 and furthered its gains to trade at 36,904.81, rising 233.38 points, or 0.64 per cent, in early trade.

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.

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

With the (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.

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.

Meawhile, Asian bourses saw mixed trading activities following the subdued last week for global equities. Hong Kong and posted gains, while stocks retreated. In contrast, Chinese stocks soared.

Besides election-related developments this week, the market will watch CPI, WPI data, analysts said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 11 2019. 09:55 IST