Dalal Street caught in bear grip as equity benchmarks fell more than 1 percent and the broader markets shed more than 2 percent. Nifty Auto and Bank indices were down 2 percent each while Realty plunged 4 percent.
Demonetisation will be positive for medium to long-term. However, in the short term the impact can be seen on daily wagers who probably are getting shifted to the brink of below poverty line, says Sridhar Sivaram, investment director at Enam Holdings.
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