'Mkt may celebrate govt move to discontinue Rs 500-1000 notes'

In a bid to tackle the menace of counterfeit currency and black money, the government is removing from circulation Rs 500 and Rs 1,000 notes beginning midnight, Prime Minister Narendra Modi announced Tuesday evening addressing the nation.Vallabh Bhansali of Enam Group has termed this move as most revolutionary and expects the equity market and economy to celebrate this with vigour and enthusiasm.

He said, market is all about long-term and so they will continue to be in good mood. The respect for government will go up many notches and so will the sentimental quotient.

The step is in absolute interest of the nation, he said.