Stock market closes in a mix; PFC, REC, IREDA suffer loss
At the close, Sensex was 17 points, or 0.02 per cent, higher at 73,895.54, while the Nifty 50 closed 33 points, 0.15 per cent , lower at 22,442.70.
The markets opened in the green and kept a steady climb up north a day after the announcement of the dates of the Lok Sabha elections.
Sensex climbed to over 300 points on Monday afternoon riding on gains in the banking and finance sectors and healthy buying across key sectors, including oil and gas.
The 30-scrip BSE Sensex came close to the 37,000 mark by afternoon after opening in the green.
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At 12.15 pm, the Sensex, which opened at 36,741.57, was trading at 36,978.07, more by 306.64 points or 0.84 per cent.
Similarly, the Nifty-50, which opened at 11,068.75, was trading at 11,145.85 points, more by 110.45 points or 1.00 per cent.
The previous close at the Sensex was 36,671.43 on Friday while that of the Nifty was 11,035.40 points.
According to market experts, the pre-poll rally is likely to continue in the wake of the announcement of the poll dates. Moreover, the markets are likely to react positively if the incumbent government returns to power.
At the time of writing, only four stocks were in the red at the Sensex – HCL Tech, Infosys, TCS and IndusInd Bank. The biggest gainer was Bharti Airtel followed by Coal India and Power Grid.
The ECI on Sunday evening announced the schedule for the Lok Sabha elections. The polls will be held in seven phases from 11 April to 19 May 2019. Counting will be held on 23 May.
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