Sensex 'Trumped' by US election result

Mumbai - It touched a low of 25,902.45 points after the election results came in

Markets went off the rails as the Sensex crashed 1,689 points and the Nifty dropped 541 points in early session after a surprise Donald Trump win and the government's move to withdraw high-value notes, but managed to pull back to close 339 points down.
After opening lower at 26,251.39 points, the BSE benchmark Sensex continued its free-fall in line with melting global stocks and cracked the 26,000 mark to touch a low of 25,902.45 points.
However, value-buying in key blue-chips helped the index recover about 1,495 points to touch the day's high of 27,397.38 before closing the session 338.61 points, or 1.23 per cent down, at 27,252.53 points.
The NSE Nifty, which dipped below the 8,100 mark, trimmed most of the initial losses and settled 111.55 points, or 1.31 per cent, down at 8,432. Intraday, the index hit a low of 8,002.25 points and high of 8,476.20 points.
Broader markets also performed weak with the BSE small-cap index falling 2.78 per cent and mid-cap down 2.03 per cent.
Foreign portfolio investors bought shares worth a net Rs86.66 crore on Tuesday, as per provisional data. In a surprise move on Tuesday, the government banned ?500 and ?1,000 currency notes in a bid to curb black money.
TCS was the top Sensex loser, skidding 4.93 per cent, followed by Maruti (4.68 per cent), Hero Motoco (3.97 per cent) and M&M (3.43 per cent). - PTI

• Battle For White House