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What the War on Black Money and Trump Victory means for The India Letter Stocks? - Views on News from Equitymaster
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  • Nov 9, 2016 - What the War on Black Money and Trump Victory means for The India Letter Stocks?

What the War on Black Money and Trump Victory means for The India Letter Stocks?
Nov 9, 2016

The 8th of November 2016 will be a historic day for India. Prime Minister Narendra Modi's master stroke of demonetizing the Rs 500 and Rs 1,000 currency notes is bigger than most reforms that we had envisaged. This is aimed to flush out black money. This announcement has a wide reaching on the Indian economy with several sectors will be under pressure. There are businesses that will struggle to adapt to the new business paradigm. Sectors such as real estate, Infrastructure and Jewelry that use more of black money will take a big knock. Similarly, sectors like construction material, travel and tourism, unorganised trade and services will see the significant pain in the near term. That's about India.

Meanwhile, the US voters have replicated the Brexit shock. Donald Trump's election as the President of the United States is also expected to have a lingering impact on global markets.

Our message is much the same this morning as it was on the morning of June 24th, when the vote for Brexit rocked the stock market, sending many popular shares tumbling lower.

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