It is exactly a month ago, on November 8, that the Demonetization effected in market. When Looking to the Indian Stock Market throughout the month, it shows a choppy ride for the Indian equity. The surprise victory of Donal Trump in the US also supported the sentiment to some extent.
The leading benchmark indices, the S&P BSE Sensex and the Nifty50 lost nearly 7.5 percent during the month, however, there have been some recovery that managed loses to a certain extent. The Nifty 50 index, hit an intra-day low of 7,916 levels on November 21 has regained to 8,200 levels, as on today, the 8th December 2016.
Further, among sectoral indices, private bank, realty, auto and FMCG (fast moving consumer goods) were the worst hit on the NSE, falling 6 percent to 16 percent during this period, while Pharma, metals, PSU bank and energy indices sustained 2.5 percent to 4.7 percent.
However, on Experts’ outlook, it presumes that the future market will depend upon the US Fed rate action in the Union Budget 2017. The corporate earnings growth, progress through GST bill will also reflect in the time ahead.