▁stock ▁market ▁during ▁November – Dec ember ▁ 2 0 1 6 . ▁A ▁data ▁study ▁( J uly ▁ 2 0 1 6 ▁– ▁February ▁ 2 0 1 7 ) ▁of ▁ 5 4 ▁companies ▁across ▁ 1 3 ▁se ctors ▁listed ▁with ▁the ▁N SE ▁showed ▁that ▁companies ▁in ▁c ement , ▁cot ton ▁and ▁rub ber ▁se ctors ▁showed ▁an ▁increase ▁in ▁total ▁tr ades ▁while ▁companies ▁in ▁autom ot ive , ▁cl othing , ▁food s , ▁paper , ▁real ▁estate , ▁ret ail , ▁steel , ▁sugar , ▁tea ▁and ▁text iles ▁se ctors ▁showed ▁a ▁decrease ▁in ▁total ▁tr ades ▁after ▁demon et isation . ▁Dem on et isation ▁had ▁a ▁negative ▁impact ▁on ▁stock ▁market ▁returns ▁ev iden ced ▁from ▁N IF TY ▁ 5 0 ▁and ▁other ▁N IF TY ▁sector al ▁indices . ▁ ▁Indust rial ▁output ▁There ▁was ▁a ▁reduction ▁in ▁industrial ▁output ▁as ▁indust ries ▁were ▁hit ▁by ▁the ▁c ash ▁short age . ▁The ▁P urch asing ▁Man agers ' ▁Index ▁( P MI ) ▁fell ▁to ▁ 4 6 . 7 ▁in ▁November ▁ 2 0 1 6 ▁from ▁ 5 4 . 5 ▁in ▁October ▁ 2 0 1 6 , ▁recording ▁its ▁sharp est ▁reduction ▁in ▁three ▁years . ▁A ▁reading ▁above ▁ 5 0 ▁indicates ▁growth ▁and ▁a ▁reading ▁below ▁shows ▁contra ction . ▁This ▁indicates ▁a ▁slow down ▁in ▁both ▁manufact uring ▁and ▁services ▁indust ries . ▁The ▁P MI ▁report ▁also ▁showed ▁that ▁the