US President-elect Donald Trump sounds more and more like a typical Republican (if anti-trade) candidate as his office takes shape. US markets have as a result recovered while Asian markets including India have continued to slump as investors pull out money to reinvest into US stocks. The Indian Sensex, which fell by 500 points in early trading, is also experiencing the double whammy of demonetization, which has created a cash crunch in the stock market. Flight ticket sales are also down, and airline officials believe that this is due to the fact that people typically making winter travel plans are currently scampering to figure out what to do with their high-denomination currency. 

Even as the Tata Motors independent directors have expressed support for beleagured CEO Cyrus Mistry, saying in a letter  that all board decisions were unanimous and backed the Chairman, Tata Motors results had Q2 profits missing estimates. New JLR models however are expected to drive sales up the next quarter. The stock has fallen 7.6% in today's trading. 

The launch of Reliance Jio with its cheap data and free calls has brought new users into the market, resulting in high sales for low-cost smartphones. The head of Ericsson estimates that the smartphone user base in India will hit 800 million within the next four years, marking a shift for India into a primarily IT-enabled economy. 

Stock in spotlight: JSW Energy has hit a new 52 week low in the past week. The company is struggling under higher coal prices and falling utilization of its plants. 

Photo of the day: A supermoon rose around the world yesterday. Here, a shot from Australia. Getty