Sensex and Nifty fall free once gain

It was another day when the Sensex and Nifty both ended in red.  The Indian equity markets which are trying to establish their ground once again were punished as the FII expiry drove them down. The S&P Sensex on November 24 closed at 25860.17, down by over 190 points; and Nifty ended 67 points down at 7965.50. This overall week has turned unfavourable to the Indian equity markets as the Foreign Institution Investors feared Indian GDP growth to remain muted post demonetisation. More than Rs 10,000 crores of FII money has been wiped out since the move. On the other hand, both Sensex and Nifty have posted the biggest loss in a series since August 2013.

The day was dark for the Indian currencies as well. The rupee against dollar was at all time low at Rs 68.86. The dollar on the other hand is at its 14-year high and is trading strong against all major currencies.On the contrary the International markets are all doing well. It will be further interesting to see as the clouds of volatility still looms over the Indian equity markets ahead of Fed rate meet  which is in the middle of December.