Carnage on mint street today as Indian equity market wiped off yesterday's gains and saw a sharp fall in major indices. Both Nifty and Sensex closed at their lowest level since June 30, 2016.
Nifty fell a whooping 229 points to end at 8296.30 and Sensex closed at 26818 down 698 points.
In an interview with CNBC-TV18, Dipan Mehta, member, BSE and NSE said that the demonetisation drive will pose some short term challenges for companies operating in the local economy.
On this sudden landslide, market expert Ashwani Gujral said that this is a retest and the panic low made when Donald Trump won won't be breached.
He said that this is the end of a correction, not the beginning of a new one and people should use this fall to buy.
Jan Dehn of Ashmore Investment Management said that there are no signs of real fundamental stress for emerging markets and today's fall could be because of unwinding of some of the positions that have been built over the years.Watch video for more.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
