Before moding deeper into the topic I would like to describe the word Black Money. Black Money is a term used to describe the money obtained from the black market or the money which has been kept hidden from the government so as to refrain from the taxes applicable on it.

After a big havoc and a day off in banks on 9th September, the Indian banks seems to be quite rushy for the whole day on 10th November. On account of black money eradication PM Narendra Modi took a big decision which was kept confidential till its announcement. PM Narendra Modi declared Rs 500 and Rs 1000 note as invalid legal tender from Nov 9, 2011 as these denominations being the major assault of black money, fake money or corruption. New notes of denominations 500 and 2000 will be released and circulated all over from November 10, 2016. PM Narendra Modi took a huge decision to eradicate the black money. After this decision bullion market had a high jump due to buying of Gold and Silver. The heavy deposition and exchange of old banned currency, increased the business and investment in banking sector, which caused banking stocks to pace up today.

Awaiting results of US Presidential Elections made the market to crash on Wednesday. However after the announcement of results, post Trump win market recovered the maximum losses and on Thursday Asian market indices surged the maximum as a result of Donald Trump victory and Indian stocks also rallied.