The conversation between human and AI assistant.
What will be the effect of banning 500 and 1000 notes on stock markets in India?
Can you tell me what effect banning 500 and 1000 notes will have on stock markets in India?
Banning the 500 and 1000 rupee notes in India is expected to have a positive impact on the country's stock market in the long run. The decision is aimed at reducing corruption, black money, and counterfeit currency in the country. As a result, sectors such as real estate, gold, and luxury goods which are fueled by black money are expected to take a hit in the short term. However, the move is expected to bring more money into the banking sector and hence, the stock market.