Indian markets are likely to open negative tracking SGX nifty. In a sudden move the
Govt has demonetized the Rs500 and Rs1000 currency notes. This with news of
Trump leading the counts in US elections so far is going to weigh heavy on our
markets today.
The Govt of India has take a historic step to curb the black money in the system
effective from mid night 8th November 2016 the Rs500 and Rs1000 currency notes
has been demonetized. Which means the old currency of the same denomination
will not be valid and RBI will introduce the new currency of Rs500 and Rs2000 with
enhanced security measures from soon.
While this will bring a lot of efficiency in the economy our markets could show a
knee jerk reaction in the opening. But structurally it will be positive move for the
entire economy and equities in the long run.
In the near term real estate companies will see slow down which could also impact
housing finance companies in turn. However realestate sector which had wit

Download Full Report View Full Report in Browser