Trump’s victory demonetises equity positions
The surprise victory of Republican Donald Trump in the US Presidential election, along with a sudden demonetisation of Rs 500 and Rs 1,000 notes, spooked investors into a selling spree and plunged the key Indian equity markets by more than 1.50 per cent during the just concluded week. Besides, a weak rupee and lower crude oil prices, combined with the political and economic backlash of the demonetisation move and outflow of foreign funds, dragged the equity markets lower.
The 30-scrip sensitive index of the BSE closed the week’s trade with a loss of 455.33 points or 1.67 per cent to 26,818.82 points.
Similarly, the 51-scrip Nifty of the (NSE) receded by 137.45 points.