Sensex soars 233 points, Nifty up 75 points in early trade on announcement of poll dates; sectoral indices in green

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 general election dates. Similarly, the NSE gauge Nifty rose over 75 points to scale past 11,110 level. Nifty Bank touched 28,000 for the first time since 3 September, 2018. HPCL, BPCL, Bharti Infratel, Coal India and Eicher Motors are the top gainers on the Nifty. The BSE Sensex 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 percent, in early trade. All the sectoral indices are trading in green. The broader Nifty opened at 11,068.75 and extended its rise to 11,110.95, gaining 75.55 points, or 0.68 percent. [caption id=“attachment_4428589” align=“alignleft” width=“380”] Stock brokers. Representational image. Reuters.[/caption] 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 percent, lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 percent, to 11,035.40. During the week, the Sensex gained 607.62 points or 1.68 percent; and the Nifty advanced 171.9 points or 1.58 percent. Meawhile, 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.