Selling pressure continues on Dalal Street as government cracks whip on black money while Donald Trump needs only 26 electoral votes to win US elections. The Sensex is down 902.15 points or 3.3 percent at 26688.99 and the Nifty is down 303.90 points or 3.4 percent at 8239.65.
The Indian jewellery market will be the worst hit with the ban on Rs 500 and Rs 1000 currency notes, says S Subramaniam, CFO of Titan Company. This is due to the preference of shoppers to pay amounts over Rs 2 lakh in cash.
There is expected to be a slowdown in the market and a short term disruption due to the ban and the US elections with a Donald Trump win likely.
