Stock Market to Remain Shut on April 29 For Lok Sabha Elections 2019 in Mumbai: NSE

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The BSE, which had closed in red on Thursday climbed up higher by 178 points at 38,989.97. Meanwhile, NSE Nifty was up by 43 points at 11,700.20.

Mumbai, April 25: The National Stock Exchange (NSE) had issued a circular announcing the closure of stock market on Monday, April 29, when the fourth phase of Lok Sabha elections 2019 will be held. A lull would occupy the Dalal Street as capital market segment, currency derivatives, commodity derivatives and futures and options segments would also remain shut.

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A holiday has also been declared in schools and select institutes on Monday as voting will be held in all the 7 parliamentary segments of Mumbai. Apart from the financial capital, polls would also be held in the neighbouring city of Thane. Sensex Touched All-Time High of 39,487.45 on April 18.

Pollsters in Maharashtra are keeping a close watch on the outcome of polls in Mumbai and Thane. The 8 parliamentary seats were clean swept by the BJP-Shiv Sena alliance in the 2014 general elections. Their primary contest here comes from the alliance of Congress-NCP.

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The election results will be declared on May 23, following the conclusion of the seven-phase polls on May 19.

Following the election result, the stock market usually witnesses a volatile trend -- depending on the poll outcome. In 2014, the BSE and NSE touched unprecedented marks with Prime Minister Narendra Modi forming a single-majority government at the Centre.