The S&P BSE Sensex on Monday closed over 16 points lower with investors turning cautious after the first phase of voting in Lok Sabha elections got under way, amid weakness in global equities.

The 30-share barometer commenced stable but soon selling pressure emerged in realty, consumer durable and power shares. The bellwether index was down over 160 points by mid-session at 22197.51. Buying in select stocks later helped the index recover most of the losses and end the day at 22343.45, only 16.05 points lower than its previous close. This is the third straight day the Sensex is recording losses.

The NSE wide-based 50-share CNX Nifty closed flat at 6695.05.

The BSE and the National Stock Exchange will remain closed on April 8 on account of Ram Navmi.

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