Markets end flat on Friday as investors remain edgy ahead of poll results on Saturday


Benchmark indices settled the day flat and posted small weekly gains as investors stayed cautious ahead of assembly election results. Exit polls declared yesterday showed BJP ahead of other rival parties in all the five states.

Victory for BJP in Uttar Pradesh will boost PM Narendra Modi’s chances of winning the 2019 general election. It would also give the party more number of legislators in the Rajya Sabha where it doesn’t have a majority, improving the government’s chances of passing key reform bills.

The 30-share Sensex ended 17 points higher at 28,946, while the 50-share Nifty settled the day at 8,934, up 7 points.

In the broader market, the BSE Midcap was down 0.2%, while BSE Smallcap fell 0.1%.


Demonetisation results in a surgical strike on the sensex!


The S&P BSE Sensex settled 77 points down at 26,105 and the Nifty50 eased 6 points to close at 8,074. In the broader market, BSE Midcap rose 0.61% while Small cap closed 0.25% higher.

Even though the indices were largely range-bound during the day, Sensex rose 120 points as well as fell more than 100 points during the day. Nifty50 also breached its crucial 8,050 level during the day.

Weaker rupee boosted export-oriented sectors like pharma even when the overall market sentiment was not very positive.

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Demonetisation, Trump’s election lead to chaotic swings in the sensex


Benchmark indices slumped by almost 3% tracking weak global cues after US bond yields soared on expectations US President-elect Donald Trump’s policies would stoke inflation. Further, demonetisation move by the government dampened investor sentiment especially with fast moving consumer goods and consumer discretionary sectors to have an impact in the short term. In an effort to curb black money and counterfeiting the government in a surprising move announced the demonetisation of Rs 500 and 1,000 currency notes with effect from midnight Tuesday.

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Reblog: How long does it take to discover Welspun India’s new worth?


The original article appeared in LiveMint on August 26, 2016 and can be found here.

In four trading sessions, Welspun India’s market valuation came down to Rs. 5,700 cr. If there were no circuit filters, we would have known this within minutes on Monday.

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Late last week, Target Corp. said it will end its business relationship with Welspun India Ltd, stating it had received bedsheets where Egyptian cotton was substituted with a cheaper variant.

When stock market trading resumed on Monday, it was clear Welspun India wasn’t worth the Rs.10,370 crore valuation it enjoyed until the prior week. But how much was it now worth?

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