Brexit, note ban, Trump and more: 10 events that moved the markets in 2016

After a roller-coaster year, Indian indices set to end 2016 with little gains

 Breaking News - The year 2016, indeed, has been a year of many surprises. From Britain’s unexpected vote to exit the European Union to Republican candidate Donald Trump’s upset victory in the US Presidential election, from Raghuram Rajan’s decision of not seeking a second term as the Reserve Bank of India (RBI) governor to India’s sudden surgical strike on Pakistan – the Indian stock market dealt with all these shocks through Markets 2016. The biggest of them all, however, was the government’s call towards the end of the year to demonetise Rs 500 and Rs 1,000 currency notes.

After 12 months of a roller-coaster ride, the market now seems poised to end the calendar year at almost the same level as at the start of 2016. As at close on Tuesday, the BSE benchmark Sensex was merely 96 points, or 0.4%, higher at 26,213.44, and the broader National Stock Exchange Nifty was up 86 points, or 1%, at 8,032.85.

1. January: The devaluation of the yuan

2. February: Union Budget 2016-17

3. June: The so-called Rexit

4. Brexit

5. July-September: Monsoon, GST Bill

6. September: Surgical strike

7. November: Donald trumps Hillary in US election

8. November: Demonetisation of high-value currency

9. December: Surge in oil prices

10. Another rate hike by the US Fed

What lies ahead?

Going into the calendar year 2017, the market will track the demonetisation impact on quarterly earnings. The Budget 2017 and any development on GST will also be in focus. Baliga believes the Union Budget could be tilted to balance the ill-effects of demonetisation. On the global front, Trump’s policies in the US and the impact of Brexit on the European economy will be keenly watched. 

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Donald Trump wins more than 270 Electoral College votes to formally become president-elect

An effort by anti-Trump forces to persuade Republican electors to abandon the president-elect came to practically nothing

There were many protesters but few faithless electors as Donald Trump won the Electoral College vote ensuring he will become America's 45th president.

An effort by anti-Trump forces to persuade Republican electors to abandon the president-elect came to practically nothing and the process unfolded largely according to its traditions.

Trump's polarising victory November 8 and the fact Democrat Hillary Clinton had won the national popular vote had stirred an intense lobbying effort, but to no avail.

Even one of Trump's fiercest Republican rivals, Ohio Governor John Kasich, said it was time to get behind the president-elect.

"We want unity, we want love," Kasich said as Ohio's electors voted to back Trump at a statehouse ceremony. Kasich refused to endorse or even vote for Trump in the election.

With Hawaii still to vote, Trump had 304 votes and Clinton had 224. It takes 270 Electoral College votes to win the presidency. Texas put Trump over the top, despite two Republican electors casting protest votes.

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Melania Trump is set to be a long-distance first lady

A long-distance first lady will be one of the many different things about Donald Trump's administration.

Breaking with tradition, Melania Trump and 10-year-old son Barron will remain in New York City until the end of the school year, after the new president moves into the White House on January 20.

The decision sets Melania Trump apart from other first ladies. But it seems in character for the former model and naturalised US citizen from Slovenia.

She was an elusive figure in the campaign and had no political experience before her husband's stunningly successful outsider campaign.

In an interview with US Weekly earlier this year, Melania Trump said that Barron "needs a parent at home, and I like to keep it as normal as possible.

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As US President-elect Donald Trump gears up to take office from the 44th and current President of the United States, pundits are having a field day trying to estimate the impact that will likely have on the US citizens. Among the immediate concerns is the impact the election result will have on the holiday spending, especially Black Friday on November 25, 2016. 

READ OUR FULL COVERAGE ON THE US PRESIDENTIAL ELECTION

While some are ambivalent about it, most media reports have indicated that Black Friday might not see as spectacular spending as expected. According to a news article, this year, Veterans Day - the first peak of several peak spending days during the holiday season – failed to kick off holiday spending. It was reported that the sales we

Has the US Presidential election cast a shadow on Black Friday 2016?

re $380 million lower than expected, at $1.16 billion. Quoting Adobe Digital Insights, the report indicated that the sales registered a measly 1% growth over a year earlier, against the predicted growth of 16%

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What’s Black Friday?

Trumping over Black Friday

Black Friday in India!

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Donald Trump is 'just the president', says defiant fugitive Snowden

Former US National Security Agency contractor Edward Snowden on Monday downplayed the importance of president-elect Donald Trump and again defended his decision to leak documents showing massive surveillance of US citizens' communications.

"Donald Trump is just the president. It's an important position. But it's one of many," Snowden told an internet conference in Stockholm, speaking via a video link from Russia, where he has been living as a fugitive.

The 33-year-old is wanted in the United States to face trial on charges brought under the tough Espionage Act after he leaked thousands of classified documents in 2013 revealing the vast US surveillance of private data put in place after the September 11, 2001 attacks.

He said he was not worried about the Trump administration stepping up efforts to arrest him and stood by his decision to leak the classified material.

"I don't care," he said. "The reality here is that yes, Donald Trump has appointed a new director of the Central Intelligence Agency who uses me as a specific example to say that, look, dissidents should be put to death.

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Has the US Presidential election cast a shadow on Black Friday 2016?

As US President-elect Donald Trump gears up to take office from the 44th and current President of the United States, pundits are having a field day trying to estimate the impact that will likely have on the US citizens. Among the immediate concerns is the impact the election result will have on the holiday spending, especially Black Friday on November 25, 2016. 

READ OUR FULL COVERAGE ON THE US PRESIDENTIAL ELECTION

While some are ambivalent about it, most media reports have indicated that Black Friday might not see as spectacular spending as expected. According to a news article, this year, Veterans Day - the first peak of several peak spending days during the holiday season – failed to kick off holiday spending. It was reported that the sales were $380 million lower than expected, at $1.16 billion. Quoting Adobe Digital Insights, the report indicated that the sales registered a measly 1% growth over a year earlier, against the predicted growth of 16%

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What’s Black Friday?

Trumping over Black Friday

Black Friday in India!

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The Trump dialogue

A statement released by Donald Trump's transition team on Wednesday said the US President-elect and vice-president-elect Mike Pence have spoken with 29 foreign leaders since winning the election last week. Here’s the full list of the leaders:

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US Elections 2016: Trump victory is negative for India, volatility will shoot up

A Donald Trump victory in the US presidential election would be negative for all emerging markets, including India. It would create demand for safe-haven bets like gold and developed-world bonds. 

Currency market is bracing for volatility even if Hillary Clinton secures a win as Trump has not cleared the air on whether he would accept the election results should he lose in a close finish.

ALSO READ:  US Election 2016: Is Donald Trump a dictator in the making?

"Even if Clinton wins, Trump may continue to push her and stoke uncertainty. If Trump wins, everything will fall and volatility will shoot up. This is not a time to take risk," said Jamal Mecklai, chief executive of Mecklai Financial, a currency consultancy firm.  

Sensex, which has come off three per cent in the past fortnight, is likely to drop further as Trump's victory could see a Brexit-like knee-jerk reaction from investors, say analysts. US bond prices will rally as investors would dump emerging market bets and that would impact the Indian bonds. Similarly, dollar will strengthen on increased inflow in US assets. This may lead to a sharp depreciation of the rupee and other emerging market currencies. For now, local bonds and currencies markets are stable. 

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Millennials 'swipe right' for Hillary over Trump, says Tinder

The US Presidential Election is just a week away, and it looks like the world’s millennials have already picked their winner.

A Tinder survey of users aged between 18 to 34 across 16 countries showed they matched with Hillary Clinton over Donald Trump, as they weighed in on issues like taxes, gun control, immigration, and education. That is, except in Russia, where 71% of users said they would vote for Trump – despite 76% of them matching with Clinton’s views on the issues.

The ‘Swipe the Vote’ poll surveyed users in the US, Argentina, Australia, Brazil, Canada, Chile, Colombia, France, Germany, India, Japan, Korea, Mexico, Russia, Spain, and the UK It went live on October 26.

Millennials swipe right for Hillary over Trump, says Tinder 57% of American users matched with Hillary Clinton and 43% matched with Donald Trump, based on the issues alone. 53% of people who polled in the United States said they plan to vote for Hillary Clinton, while 47% plan to vote for Donald Trump.

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Trump challenges Clinton to drug test

Donald Trump tried to change the subject on Saturday, unveiling a plan to combat opioid addiction in the US while also challenging his Democratic presidential competitor to take a drug test before their next debate. Yet he couldn't completely drop the subject of sex, or let go of the idea of a conspiracy to take the election from him.

The Republican presidential nominee rallied in front of boisterous crowds in Portsmouth, New Hampshire, and in Bangor, Maine.

The New England events came a day after two more women came forward with accusations of sexual harassment against the billionaire, which Trump has denied with vigor. He's linked the stream of allegations to a theory the presidential race is being tilted by the media in favour of Hillary Clinton.

Related: Donald Trump says allegations of sexual misconduct 'fabricated'

"The election is being rigged by the corrupt media pushing completely false allegations and outright lies in an effort to elect her president," Trump said in Portsmouth.

Alluding to one of the allegations, in which an accuser says he groped her for a period of about 15 minutes, Trump sought to refute the claim on the grounds of common sense: "Fifteen minutes? With the ladies in this place, it'd be one second and then it'd be, 'Smack,'" Trump said before a crowd of about 5,000 people at a car dealership.

"It's a rigged election because you have phony people coming up with phony allegations with no evidence whatsoever," Trump said. House Speaker Paul Ryan on Saturday pushed back against Trump's suggestions about the U.S. electoral process. Ryan is "fully confident" the election will be carried out with integrity, his spokeswoman AshLee Strong said in a statement.

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