Sensex, nifty fall as 500 and 1000 notes get scrapped

http://goldsilversalesrate.blogspot.in/ Sensex, Nifty Fall As 500 and 1000 Notes Get Scrapped

Indian Shares Recover Indian shares recovered some of their opening losses after Clinton overtook Trump after winning California.

The Sensex recovered 3.5 percent from the day’s low, but was still down 2.8 percent at 26,857. The 50-share Nifty is down 2.7 percent to 8,300, after falling as much as 6.3 percent in opening trade. Also Read: Live: Rs 500, Rs 1,000 Notes Scrapped, Rs 2,000 Note Introduced

Opening Bell The S&P BSE Sensex declined 6.1 percent to 25,902 while the NSE Nifty lost 6.3 percent to 8,002. The market breadth was abysmal at 1,448 declines, 69 advances and 325 stocks remaining unchanged.

Shares are tumbling across Asia, with the Nikkei 225 index in Tokyo down 4.4 percent at 16,410.55, as Trump seemed to be leading.

The dollar has plunged against the yen, dropping to 101.99 yen from 105.46 yen earlier in the session.

The Mexican peso has also fallen 10.7 percent to 20.32 pesos to the dollar.

Pre-Market Update The S&P BSE Sensex dropped 4.8 percent to 26251 while the Nifty slumped 5.5 percent to 8,067.

Rupee fell 23 paise against US dollar to 66.85 in early trade on Wednesday after the crackdown on black money.

Sensex crashed 1,340 points, while Nifty plunged 476 points in pre-open session, as the government’s move to abolish high-denomination banknotes are seen hurting shares of property developers, jewellery makers, reported BloombergQuint.

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