Note the prisoner is still chaos. The Rupees ban will affect the economy in the short term just to know it is being tried. But it is very clear that the long-term impact it will have on the economy.
FII selling is not surprised. Conditions are not clear about the Fed rate until investors withdraw money will remain in the mode. Uncertainty is not good for the market. Global uncertainty has remained the same. US Fed rates rising concern in the Indian market is witnessing sustained selling by FIIs. Besides, FIIs are concerned with cross-currency movements.
Indian economy from the perspective of long-term prospects are good. But now, given the continued uncertainty in the market suggest that will not invest in a hurry. Research properly before going to invest in the market and will advise. 1 month now and continuing uncertainty in the domestic market is likely to continue in such advice would be to be patient.