Sensex sheds over 600 points after poll decides for a Brexit
Sensex sheds over 600 points after poll decides for a Brexit
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Rupee ended at 67.951 down 0.670 points on currencies shrinking globally.
NSE Nifty ended 181 points down at 8,088.60, holding its above 8,000 mark. The index was heavily negative with 6 advances and 45 declines.
After British decides to leave EU membership, Indian market managed to re-gain some movement from the hotbed of morning trading session. Sensex ended at 26,397.71 down 604.51 points or 2.24%. The 30-script was negative as they faced selling pressure by investors. The index had 6 advances and 24 declines. Tata Motors was among the top losers after the Brexit poll decision. The shares of Tata Motors closed at Rs. 449 down 8%.
Black Friday for market : PK Basu, Chief Economist, Macquarie
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Maruti Suzuki stated they are prepared to deal with Brexit and they will continue export like before. However the company's stock was trading below 111 points at Rs. 4,051.30. It opened at Rs. 4,071 lower from its previous close of Rs. 4,162.65.
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British exit from EU membership slumped the Tata Motor shares. The shares of the company was trading at Rs. 444.65 down 43.35 points or 8.88%. It faced selling pressure with total traded quantity of 27.48 lakh shares against two weeks average quantity of 7.68 lakh shares.
At 1.57 pm, Nifty was down by 241.70 points at 8,028.75. It was negative with 5 advances and 46 declines.
Raghuram Rajan cooled off Indian market, by saying RBI would provide liquidity to enable orderly adjustment in the local market following Brexit creating ripples across global markets, while he expects India's strong fundamentals would help it to remain largely immune from the shock. Sensex was bounces back to its 26,000 mark. However, the market was trading down by 774.98 points or 2.87% at 26,227.24 on global cues.
Europe market which has been among the major export market of Indian auto sector, will lead to a trouble for them. Motherson Sumi which accounts for 60% of its consolidated revenue from the EU, is now trading below 9% at Rs. 274.
Looks likes its a black friday for Tata Motors. The major auto-maker slumps over 11% on BSE trading at Rs. 431.50. Investors maintain a selling pressure in the stock as the company has its main business unit JLR headquartered in UK. JLR derives 24% of its sales volume and around 35%-45% of component supplies from Europe.
IT major Infosys shed over 26 points at Rs. 1,186 on Brexit referendum. The company involves around 23% of its revenue from EU and a separation will bring change of functioning the company. Total traded quantity was around 0.94 lakh shares against two weeks average quantity of 1.36 lakh shares.
The Indian business which have their operations in UK are going to be badly impacted. Tata Steel dips by 9.35% at Rs. 302.55. The company accounts for 12% of the volume foreign subsidiary in UK which exports to EU.
MCX was trading below 5.15% at 930 ahead of leave vote in leads for Brexit. The index opened at 964.50.
The margin is recording in favour of the leave camp. The leave camp leads with 15,061,847 votes against Remain's 14,040,003, says BBC.
The brexit bloodbath begins. Nasdaq and S&P 500 futures fall more than 5% after Britian projected to leave E.U. by UK networks.
On Friday, Britain's pound slumped to a more than 3 decades against the dollar and the safe-haven yen soared as early results of the referendum on whether to stay in the European Union (EU) showed the leave camp in the lead. The pound was travelling as little as $1.3459 as results indicating leaving in the trade bloc.
In Japan, the Nikkei 225 tumbled 8.19 percent in the afternoon session on the back of fresh strength in the yen.
Dow futures plummet 600 points as ITV, BBC project that U.K. will leave E.U.
Tata Motors were down by 41 points or 8.45% trading at Rs. 446.75. The company's JLR unit is a UK based and the Brexit decision will effect the functioning of car-maker. Total traded quantity was around 5.61 lakh shares against two weeks average quantity of 7.68 lakh shares.
Asian market feels the brexit heat.
SGX Nifty slips 100 points on global cues.
Compared to PSUs, private banks were majorily hurted by the Brexit fear. The private bank Nifty was down 377 points or 3.74% at 9,726.75.
All banking stock shrinked as the index reached below 717 points at 17,174.85. Kotak Mahindra Bank faced more selling pressure by slumping over 5% at Rs. 712.95.
NSE too heated up by reaching below 8000 mark. The 50-script index opened below 282 points or 3.41% at 7,988.30. There was only 1 advances and remaining all declines.
Ahead of Brexit global cues were negative, BSE too followed the sentiments. The 30-script index opened below 914.57 points or 3.39% at 26,155.29 shrugging off its previous mark of 27,000. The index was massively negative with no advances and all declines. Investors went for profit booking led by Brexit decision which due today.
At 9.15 am, Indian rupee forwards reached above 68 declining by 0.816 points or 1.21% since February 2016, as votes will be declared today for Britrains membership with European Union.
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