Mumbai: On Monday, April 29, the National Stock Exchange (NSE) had issued a circular announcing the closure of stock market 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. 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.
Here it is to be noted that apart from the financial capital, polls would also be held in the neighbouring city of Thane. 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. To be noted that the election results will be declared on May 23 following the conclusion of the seven-phase polls on May 19.
However it is worth mention here that 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.