Sensex crashed 700 points, second biggest loss in 2016
With the country witnessing demonetisation of Rs 500 and Rs 1000 notes, Sensex crashed nearly 700 points on Friday, marking its second biggest loss of this year.
The Sensex is down 698.86 points or 2.5 percent at 26818.82, while Nifty ended below 8300, down 229.45 points or 2.7 percent at 8296.30, for first time in four months. The rupee fell as much as 59 paise against the US dollar to 67.22.
Concerns emerged after the US president election and the demonetisation of high value currency notes in the county would have impacted the market, experts said.
State Bank of India fell 3 per cent while HDFC, ICICI Bank, ITC, Tata Motors, and Infosys also suffered big losses today, reports said.
Meanwhile, Asian shares and emerging market currencies also fell on Friday as investors worried higher interest rates under Donald Trump’s US government. Indonesian rupiah was down 1.1 per cent against the dollar.
Global financial markets have been on a wild ride amidst the economic uncertainties after the victory of Donald Trump in US election, media reports revealed.