Top 10 events that shaped market in 2017.

The Indian market had an exciting year returning over 25 percent between Sensex and the Nifty on a year to date basis. Nifty crossed 10,000-mark while the Sensex also traded above 33800-mark.

> Here are the Top 10 events that shaped the markets during 2017.

1.   Union Budget: The budget was presented a month in advance to Feb1. The railway budget was merged with the Union Budget. The key development for taxpayers was the slashing of tax rate for income of Rs 2.5-5 lakh were to 5 percent, while there was a ban on cash for transactions over Rs 3 lakh. This, the government felt, will help in increasing the tax base. Market welcomed the change.

2.   Trump’s Evolution: Even than an intense campaign by Hilary Clinton, Donald Trump won the elections in November 2016 and sworn in as the 45th President of the United States in earlier 2017. Since then his bold statements and moves are affecting the market sentiments.

3.   GST reform: This year marked one of the biggest tax reform by rolling out of single tax regime in the country—goods and services tax (GST) on July 1, after more than 11 years of intense discussions between Centre and the states. GST council announced four slabs of 5, 12, 18 and 28 percent rates for commodities across board. The initial implementation issues and big paper work created a lot of noise affecting business sentiments which make government to address the same in end of year.  

4.   Big focus on NPA: Multiple reforms were rolled out to fix rising NPAs .A massive Rs 2.11 lakh crore recapitalisation plan for PSBs rolled out by Govt in October 2017 which will spread over 2 yrs. The government also brought in an amendment to the Insolvency and Bankruptcy Code ordinance in November 2017 to prevent misuse of this code. The change prevents wilful defaulters or promoters with some history of defaulters from bidding for their own or other stressed assets at a discount.

5.   A year of IPOs: More than 120 companies hit the primary market to raise Rs 70,000 crore so far, much higher than from last many years. The year also saw one of the most sought after IPO witnessing a bumper listing premium of 100 percent. Avenue Supermarts, the operator of D-Mart, doubled investors’ wealth in the opening tick and has seen an upward move since.

6.   Fed rate hikes in 2017: Emerging markets like India could take relief in the fact that US Federal Reserve stuck to its script of raising interest rates on three occasions. The central bank also raised its growth forecast for 2018. Going forward, in 2018, the Fed has held its projection of three hikes.

7.   Infosys’ Sikka saga: An event that shook the IT sector and the markets on Aug 18 , when Vishal Sikka resigned as the CEO & MD of Infosys citing "a continuous distractions and disputes with Main Co-founder Mr. N. Muthy.

Later in December, Salil S Parekh was appointed as new (CEO & MD) of the company wef Jan 2018. Parekh came from Capgemini.

8.   North Korea: Tensions on the North Korean front continued to hit the headlines through the year. The testing of hydrogen bomb with possible capability to strike Japan or US was in big news leading to more sanctions on North Korea. Further indirect support by China further complicated the matter and created a war-like situation. As a result, markets around the world have been jittery based on these developments.

9.   UP, Gujarat and Himachal Pradesh: The ruling Bharatiya Janata Party (BJP) registered massive victories in state elections this year. Earlier in March, it won a two-thirds majority in Uttar Pradesh, followed by retention of power in Gujarat and taking over from the Indian National Congress in Himachal Pradesh.The political stability gave the markets extra fillip to believe that the Centre will be able to push crucial reforms through states and give it the desired numbers at Rajya Sabha as well.

10.                      Crude Movement: The year also witnessed a surge in prices of crude. Any spike in the oil price will hurt big importer like India. Earlier this month, oil rose above USD 65 a barrel for the first time since mid-2015 following a shutdown of the UK's biggest North Sea oil pipeline, which helped set the benchmark for global prices.The Indian market has had a healthy year, returning over 25 percent between Sensex and the Nifty on a year to date basis.