Friday, 9 December 2016

One month of demonetisation: Indian markets 4th worst performing globally

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It has been a choppy ride for the Indian equity markets that had been hit by the double whammy of demonetization and the surprise victory of Donald Trump in the US Presidential elections, exactly a month ago on November 8. India’s Nifty (down 3.5%) was the second worst performing index in Asia after Philippines, and the fourth globally – after Mexico (down 5.9%), Brazil (4.3%) and Philippines (down 3.9%).

The frontline benchmark indices – S&P BSE Sensex and the Nifty50 – that lost around 7.5% during the month, though have managed to recoup some losses. The Nifty50 index, for instance, hit an intra-day low of 7,916 levels on November 21 has clawed back to 8,200 levels by December 08.

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