Stock, forex, commodity markets closed for fourth phase of Lok Sabha elections in Mumbai

All major markets, including BSE, National Stock Exchange (NSE), forex and money markets are closed on Monday due to elections in Mumbai.

FP Staff April 29, 2019 10:49:53 IST
Stock, forex, commodity markets closed for fourth phase of Lok Sabha elections in Mumbai
  • The fourth and final phase of polling in Maharashtra across 17 Lok Sabha seats is underway on Monday

  • On Friday, the BSE Sensex rallied 336 points to reclaim the 39,000-level, capping off a volatile week

  • On Friday, the rupee rebounded by 23 paise to close at 70.02 against the US dollar after Brent crude oil prices receded from a six-month high of $75.60/barrel

All major markets, including BSE, National Stock Exchange (NSE), forex and money markets are closed on Monday due to elections in Mumbai.

The fourth and final phase of polling in Maharashtra across 17 Lok Sabha seats is underway on Monday. Altogether 3.11 crore voters are eligible to exercise their franchise across the 17 seats of Mumbai metropolitan region and parts of northern and western Maharashtra, said a PTI  report.

Stock forex commodity markets closed for fourth phase of Lok Sabha elections in Mumbai

Representational image. Reuters.

On Friday, the BSE Sensex rallied 336 points to reclaim the 39,000-level, capping off a volatile week where investors grappled with flaring oil prices and sudden sell-offs at higher levels.

Trading received a boost on Friday after global oil prices slipped below the $75 per barrel mark and blue-chips posted encouraging results.

The 30-share BSE Sensex, which opened on a firm footing on Friday, was propelled by a burst of buying in late-afternoon trade. It finally closed at 39,067.33, up 336.47 points, or 0.87 percent.

On similar lines, the NSE Nifty climbed 112.85 points, or 0.97 percent, to 11,754.65.

It was a highly volatile week for the benchmarks, with the Sensex logging a gain/loss of more than 300 points for four out of five sessions.

During the week, Sensex dropped 72 points, or 0.18 percent; while the Nifty gained just 1.85 points, or 0.01 percent.

On Friday, the rupee rebounded by 23 paise to close at 70.02 against the US dollar after Brent crude oil prices receded from a six-month high of $75.60/barrel.

Forex traders said the greenback's weakness against key rivals overseas, sustained foreign fund inflows and heavy buying in domestic equities also supported the rupee upmove.

At the interbank foreign exchange market, the domestic unit opened at 70.12 and advanced to a high of 69.97 during the day. It finally settled at 70.02, registering a rise of 23 paise against the dollar over its previous close.

With PTI inputs

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