The markets began on a very strong note with the positive cues coming from the global front. The trade deal know looks set to become a reality in January and the British elections in December appears to be veering towards a win for the Conservative party led by Boris Johnson. Even the Supreme Court order in the morning asking the BJP to prove its majority on the floor of the house by 27 November was looked at favourably by the markets as the BJP had expressed confidence in showing the numbers on the floor of the house.

However, things took a turn by afternoon when Ajit Pawar, who had promised support to the BJP, resigned from his post saying he could not muster the numbers. That was the signal that the BJP would find it difficult to pass the floor test and that is when the markets started cracking sharply. From being strongly in the positive, the markets ended in the negative as the markets began to bet on an imminent resignation by Devendra Fadnavis, which followed by around 4 pm. However, the good news for the NSE was that the Nifty still managed to close above the 12,000 mark. That will give the markets something to cheer about.