Nifty volatile, uproar in Parliament on cash crunch; IT up

Epic Update TCS
Epic Update TCS

The market is still down but the Nifty has managed to hold 8000. The 50-share index is down 29.70 points or 0.4 percent at 8003.60 and the Sensex is down 92.09 points or 0.3 percent at 25959.72. 
About 1245 shares have advanced, 976 shares declined, and 147 shares are unchanged.

IT stocks are rallying as rupee continues to skid. Infosys, TCS, SBI, Bajaj Auto and Asian Paints are top gainers in the Sensex. Among losers are Tata Motors, NTPC, ICICI Bank, Adani Ports and GAIL.

Uproar in Parliament continues as opposition debates on cash crunch after PM Narendra Modi banned notes of Rs 500 and Rs 1000 in a surprise move. Speaking in the Rajya Sabha, former PM Manmohan Singh said that the demonetisation move can impact GDP by 2 percent. Severely critising the government, Singh said the people’s confidence in currency and banking system is shaken.
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