Brexit, note ban, Trump and more: 10 events that moved the markets in 2016

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Breaking News - The year 2016, indeed, has been a year of many surprises. From Britain’s unexpected vote to exit the European Union to Republican candidate Donald Trump’s upset victory in the US Presidential election, from Raghuram Rajan’s decision of not seeking a second term as the Reserve Bank of India (RBI) governor to India’s sudden surgical strike on Pakistan – the Indian stock market dealt with all these shocks through Markets 2016. The biggest of them all, however, was the government’s call towards the end of the year to demonetise Rs 500 and Rs 1,000 currency notes.
After 12 months of a roller-coaster ride, the market now seems poised to end the calendar year at almost the same level as at the start of 2016. As at close on Tuesday, the BSE benchmark Sensex was merely 96 points, or 0.4%, higher at 26,213.44, and the broader National Stock Exchange Nifty was up 86 points, or 1%, at 8,032.85.
  1. January: The devaluation of the yuan
  2. February: Union Budget 2016-17
  3. June: The so-called Rexit
  4. Brexit
  5. July-September: Monsoon, GST Bill
  6. September: Surgical strike
  7. November: Donald trumps Hillary in US election
  8. November: Demonetisation of high-value currency
  9. December: Surge in oil prices
  10. Another rate hike by the US Fed
What lies ahead?
Going into the calendar year 2017, the market will track the demonetisation impact on quarterly earnings. The Budget 2017 and any development on GST will also be in focus. Baliga believes the Union Budget could be tilted to balance the ill-effects of demonetisation. On the global front, Trump’s policies in the US and the impact of Brexit on the European economy will be keenly watched.
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