BackUncertain year
Donald Trump's policy make-up and short-term impact of demonetisation are certain to affect stock markets in 2017, after an almost flat end to 2016
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Investors in the Indian equity market will end the year with disappointment as benchmark indices are almost flat on a year-to-date basis. This, after the markets delivered negative returns in 2015.
The weakness in the market was compounded in recent months by capital outflows because of the changing global financial outlook and the currency exchange programme of the government which is likely to affect corporate earnings in the short to medium term.
These uncertainties will be carried forward into the new year. Among other things, the stock market will track how the policy shapes up under the new president in the US and its likely impact on global capital flows. The December-quarter results and the accompanying management commentary will also be closely followed to gauge the actual impact of the currency swap on earnings.
Meanwhile, markets would look forward to the budget for policy support amid rising uncertainty in the global environment.
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