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Thursday, 17 November 2016

Nifty index below 8100, since demonetization, Sensex down 71.07 pts

The government’s demonetization move together with global headwinds has been a double strain for the Indian markets. The Nifty has closed below 8100, while Sensex went down 71.07 points or 3% at 26,227.62. By comparison, the Nifty50 index has slipped around 4% with 31.65 points at 8079.95. 

About 960 shares have advanced, 1660 shares declined, and 154 shares are unchanged.  

Bajaj Auto, Bharti Airtel, TCS, Coal India and Asian Paints are losers, whereas Tata Motors, BHEL, Cipla, GAIL and NTPC are gainers in the Sensex. Sun Pharma is also up in positive territory. A lack of positive catalysts from global markets also seems to be prompting investors to tread cautiously. 

The consumption related sectors are hitting hard, particularly the real estate sector, given the high cash-based transactions.

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