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Friday, Indian benchmark Index Nifty saw a sharp upside rally of 132 points from a low of 8006 to make a high of 8138 and finally closed at 8118. The fears in the market around the demonetization and its negative effects on economy seemed to subside a little as the broader Indices like Small Cap and Bank Nifty continued to outperform Nifty.
However, RBI's current move to curb excess liquidity with the banks may put some pressure on the markets especially the banking shares, which may get the worst hit. RBI in a circular to all scheduled bank has ordered them to maintain excess reserves in form of an incremental CRR of 100% on the increase in NDTL (Net Demand and Time Liabilities) between 16 Sep and 11 Nov, 2016. However, RBI also mentioned that the move was a temporary one and will be reviewed on Dec 9 2016.
Friday, Indian benchmark Index Nifty saw a sharp upside rally of 132 points from a low of 8006 to make a high of 8138 and finally closed at 8118. The fears in the market around the demonetization and its negative effects on economy seemed to subside a little as the broader Indices like Small Cap and Bank Nifty continued to outperform Nifty. 
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