Sat, Mar 25, 2017 | updated 01:32 AM IST

Market experts sweat as Trump inches closer to White House

Updated: Nov 09, 2016 12:03 IST

Mumbai[India], Nov.9(ANI): As the picture in the US presidential election becomes clearer with Republican Donald Trump taking the lead over his rival Hillary Clinton, the Indian market crashed, citing US elections as the reason for the slump.

Share Market expert, Siddharth Kuwawala told ANI that markets are positive regarding the demonetization of Rs 500 and 1000 currency notes.

"Major reason for the Sensex slump is the rise of Donald Trump as the next President of United States," Share Market expert, Siddharth Kuwawala said.

Kuwawala stressed on the fact that people at share markets across the world are not certain about Trump's economic policies as he is unpredictable in nature.

A majority of polls had indicated Hillary to win the election comfortably but a likely Trump victory made global markets nervous, after traders had taken positions betting on the former.

Speaking on the demonetization of Rs 500 and 1000 currency notes, Kuwawala emphasised that Share market everyday dealing is done by Cheque and Cash transactions are almost negligible.

Wednesday morning witnessed a situation of blood bath on Dalal Street as nervous investors welcomed triggers with US elections outcome around the corner as Donald Trump leads in the US elections.

Also, the market apprehensions are on the rise as it welcomed government's decision to withdraw Rs. 500 and Rs. 1000 notes in an attempt to curb black money.

The Sensex witnessed a crash of 1584.19 points or 5.7 percent at 26006.95, while the Nifty witnessed a downfall of 474.00 points or 5.6 percent at 8069.55.

The dollar tumbled against the yen and euro while the Mexican peso fell off a cliff as polling results in the knife-edge US presidential race pointed to a strong showing by property mogul Donald Trump.

The greenback plunged 3.8 percent to 101.50 yen while it lost almost two percent against the euro, which bought USD 1.1224 in Tokyo trading.(ANI)

Patna (Bihar) [India], Mar. 24 (ANI): President Pranab Mukherjee on Friday said civil societies should come forward to meet challenges for social and economic development of states like Bihar and Jharkhand.

Full Story >>

New Delhi [India], Mar. 24 (ANI): Union Labour and Employment Minister Bandaru Dattatreya on Friday while appreciating the initiative of the Union Cabinet to establish a constitutional commission for the upliftment of the backward classes said that the demand was pending from long time and it is good that now some steps have been taken on it.

Full Story >>

Hyderabad (Telangana) [India], Mar.24 (ANI): A case has been registered against Congress leader V. Hanumantha Rao in Hyderabad's Saifabad Police Station under Sections 353, 294-B and 504 of the Indian Penal code (IPC) for shouting at a Telangana police officer.

Full Story >>

New Delhi [India], Mar. 24 (ANI): The Indian Navy once again successfully conducted maiden trial firing of newly installed Surface-to-Air missile system from aircraft carrier INS Vikramaditya.

Full Story >>

New Delhi [India], Mar. 24 (ANI): After being barred by all the airlines, Shiv Sena MP Ravindra Gaikwad who assaulted Air India staff member took a train to Mumbai on Friday.

Full Story >>

Raichur (Karnataka) [India], Mar.24 (ANI): In what may come as a shock, Kurma Rao, the Chief Executive Officer of the Raichur Zilla Panchayat in Karnataka, was recently filmed being carried across a drain by two people, ostensibly as he did not want to get his shoes and pants wet.

Full Story >>

New Delhi [India], Mar.24 (ANI): Emphasizing the significance of technology, Chief of Army Staff General Bipin Rawat on Friday asked the industrialists and academicians to come up with robust yet technologically compatible solutions, adding that the Indian Army would fight its wars in varied terrain and weather conditions.

Full Story >>

Mumbai (Maharashtra) [India], Mar. 24 (ANI): Television actress Shilpa Shinde, who used to play the role of Angoori devi in 'Bhabi Ji Ghar Par Hai' has filed an FIR against the show's producer and accused him of sexual assault.

Full Story >>

Hazaribagh (Jharkhand) [India], Mar.24 (ANI): As many as six Border Security Force (BSF) personnel were injured during field firing at Hazaribagh on Friday.

Full Story >>

New Delhi/Mumbai (Maharashtra) [India], Mar. 24 (ANI): The Shiv Sena on Friday came out to defend MP Ravindra Gaikwad who has been facing sharp criticism for hitting an Air India staffer over a sitting arrangement and said that everyone loses their temper at some point of time.

Full Story >>

Etawah (Uttar Pradesh) [India], Mar.24 (ANI): Asserting that there is no problem with ban on slaughter houses, the Forest Department of Uttar Pradesh's Etawah Wild Life Safari Park on Friday said the lions are fed with goat's meet.

Full Story >>

Bhopal (Madhya Pradesh) [India], Mar 24 (ANI): A 10-year-old boy, Sreyansh who is suffering from Progeria was made chairman of the Madhya Pradesh State Commission for Protection of Child Rights (MPSCPCR) for a day on Friday.

Full Story >>

New Delhi [India], Mar.24 (ANI): Prime Minister Narendra Modi on Friday congratulated Odisha-born world renowned sand artist Sudarsan Pattnaik for registering his name in the Guinness Book of Records by creating world's tallest sandcastle on Puri sea beach on February 10.

Full Story >>

New Delhi [India], Mar.24 (ANI): Urging global community to eradicate terrorism, President Pranab Mukherjee on Friday said there can be no justification for terrorism under any circumstances, adding that the international community must work together.

Full Story >>

Hazratganj (Uttar Pradesh),[India] Mar. 24 (ANI): An FIR has been registered in Uttar Pradesh's Hazratganj against filmmaker and Farah Khan's husband Shirish Kunder for his tweet against Chief Minister Yogi Adityanath.

Full Story >>

New Delhi [India], Mar. 24 (ANI): Supporting superstar Rajinikanth's decision to take part in a charity event in Sri Lanka's Jaffna, the Bharatiya Janata Party (BJP) on Friday said rather than condemning this act, the anti- national elements should take part in this initiative.

Full Story >>

Hyderabad (Telangana),[India] Mar. 24 (ANI): A Hyderabad court on Friday granted conditional bail to Swami Aseemanad in 2007 Mecca Masjid blast case, paving way for his release from jail after seven years.

Full Story >>

New Delhi [India], Mar.24 (ANI): The Aam Aadmi Party (AAP) Sena on Friday held a protest in a unique way against Shiv Sena MP Ravindra Gaikwad' for assaulting Air India staffer Sukumar with slipper.

Full Story >>

Kochi (Kerala) [India], Mar 24 (ANI): A shocking incident has come to light wherein it has been found that a 12-year-old boy has become the youngest father.

Full Story >>

New Delhi [India], Mar.24 (ANI): In what could be termed as a blame game, Shiv Sena MP Ravindra Gaikwad on Friday submitted a complaint against Air India before the Delhi Police alleging that he was pushed and yelled on.

Full Story >>