What changed for the market while you were sleeping? Top 10 things to know

Exactly two years ago, Prime Minister Narendra Modi announced demonetisation of high denomination bank notes. The announcement, whose primary purpose was to curtail the shadow economy, received a mixed response, garnering support from several bankers and international commentators alike but also getting criticised as poorly planned and unfair. While you could be on either side of the fence on this one, data reveals that several stocks have done quite well since demonetisation. Here are the top ten stocks that have rallied since November 8, 2016:

Exactly two years ago, Prime Minister Narendra Modi announced demonetisation of high denomination bank notes. The announcement, whose primary purpose was to curtail the shadow economy, received a mixed response, garnering support from several bankers and international commentators alike but also getting criticised as poorly planned and unfair. While you could be on either side of the fence on this one, data reveals that several stocks have done quite well since demonetisation. Here are the top ten stocks that have rallied since November 8, 2016:

Benchmark indices closed the last session of the truncated week ended November 22 on a negative note. Indices declined for three consecutive days until Thursday ahead of the expiry of November futures and options contracts.

The Nifty 50 lost around 250 points from its recent swing high of 10,774 to move near 10,500. The index shed 73.20 points to close at 10,526.80 and the 30-share BSE Sensex ended below 35,000, down 218.78 points at 34,981.02 despite a sharp appreciation in the rupee and the fall in crude oil prices.

The rupee gained 219 paise against the US dollar in last seven consecutive sessions while crude oil prices plunged 27 percent since October 3, 2018, to trade around $63 a barrel.

All sectoral indices closed in the red on Thursday with Nifty Bank falling a percent and metal declining 1.77 percent. The broader indices also traded in line with frontliners with the Nifty Midcap index falling 0.91 percent.

[“source=forbes]