ADVERTISEMENT
Year After Cash Ban, There's No Sign of India Correction: Chart
No sign of correction seen in the Indian stock market a year after demonetisation.
09 Nov 2017, 08:30 AM IST 
The Bombay Stock Exchange (BSE), right, stands on Dalal street in Mumbai (Photographer: Adeel Halim/Bloomberg)
(Bloomberg) -- A year after Prime Minister Narendra Modi scrapped all high-value banknotes in a move to tackle corruption, India’s $2.2 trillion stock market has surged to become Asia’s second-best performer. The S&P BSE Sensex fell more than 10 percent from peak to trough a few weeks after the Nov. 8 clampdown, but since then it’s been full speed ahead with no sign of a further correction. A more protracted slump came two years ago as concerns about China’s economic slowdown sparked a global selloff.
To contact the reporter on this story: Ravil Shirodkar in Mumbai at rshirodkar@bloomberg.net.
To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Colin Simpson
©2017 Bloomberg L.P.