Sensex, Nifty Fall As 500 and 1000 Notes Get Scrapped

Live: 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.

Markets open with a positive bias

LIVE: Markets open with a positive bias; Sensex up by 80 points at 27547, Nifty gains 25 points

09.35 am: Sensex was trading over 70 points high at 27,526.58 while NSE nifty advanced by 22.75 points to trade at 8,519.80. Here is how the 30-share index is performing as of now:
OPENING BELL
BSE Sensex, NSE Nifty opened in green ahead of the US Presidential Elections. Sensex opened nearly 80 points up at 27,547.95 while Nifty was up by 25 points or  0.30% at 8,522.75
PRE-MARKETS
Ahead of US Presidential Elections, domestic equity markets are likely to open on a higher note on Tuesday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 29 points up at 8,538. Asian shares rose in early Asian trade on Tuesday ahead of the U.S. presidential election, with investor sentiment buoyed by improving prospects for Democrat Hillary Clinton to win. The Mexican peso, which has moved in opposite step to perceived chances of Republican Donald Trump winning the election, retained its strong gains from Monday, while the dollar also held steady.
On Monday, Sensex staged a strong comeback to end with a gain of nearly 185 points, reversing its five-session losing run and tracking rebound in global market after prospects of Hillary Clinton brightened in the US presidential race following an FBI reprieve.
Stocks in focus:
1. ICICI Bank: ICICI Bank on Monday reported 12.8 per cent dip in consolidated net profit to Rs 2,979 crore for the September quarter as its provisioning for bad loans shot up by 7-fold. The bank’s net profit in July-September quarter of the last fiscal was Rs 3,419 crore.
2. Britannia Industries: Britannia Industries today reported a 5.79 per cent increase in consolidated net profit at Rs 233.95 crore for the second quarter ended September 30, 2016. The company had posted a net profit of Rs 221.13 crore in July-September period a year-ago, Britannia Industries said in a BSE filing.