Sensex recovers 425 points from days low after Trump’s win

Nearly 40 per cent of India’s economy is driven by small- and medium-sized enterprises that largely run on cash transactions. Economists said Prime Minister Narendra Modi’s demonitisation move on Tuesday evening could impact these businesses, and in turn have a knock-on effect on economic growth.

PM Modi announced the withdrawal of Rs 500 and Rs 1,000 notes to crack down on black money and counterfeit currency.

The selling pressure in broader markets was even more severe with BSE midcap and smallcap indices slumping nearly 3-4 per cent.

(Sourced from agencies, feature image courtesy:oneindia.com)