Live Market Updates: Sensex
plunges over 900 pts, Nifty falls 3.5% as Brexit imminent
The
market has opened sharply lower. The Sensex is down 940.07 points or 3.5
percent at 26062.15, and the Nifty down 287.70 points or 3.5 percent at
7982.75. About 57 shares have advanced, 1065 shares declined, and 18 shares are
unchanged.
The market has opened sharply lower. The Sensex
is down 940.07 points or 3.5 percent at 26062.15, and the Nifty down
287.70 points or 3.5 percent at 7982.75. About 57 shares have advanced, 1065
shares declined, and 18 shares are unchanged.
Tata Motors is down 10 percent. Tata Steel is down 8 percent, ICICI
Bank, Maruti and Adani Ports are major losers.
BBC has projected 'leave' win in UK referendum. FTSE futures crashed 7.5
percent to 5813. "The UK's EU referendum is proving close but the Remain
campaign appears to be failing to pick up enough support outside London to
win."
The Indian rupee declined in the opening trade on Friday ahead of UK vote
results. Devesh Divya, Asia FX Strategist at Standard Chartered Bank said,
"Brexit will see a massive risk-off event for global markets, dollar/rupee
will move sharply higher, which may see Central Bank's intervention but if its
remain, we may see pullback on dollar/rupee."
The pound collapsed to its lowest level since 1985 as the unit takes a
beating on fears that Britain will vote to leave the European Union, in what
critics warned would be a hammer blow to financial markets.
The unit tumbled to USD 1.3466, its weakest level in three decades,
according to Bloomberg data, as results in the EU membership referendum showed
the "Leave" camp posting big wins and bookmakers Pound collapses to
lowest since 1985 on Brexit shock.
US stock index futures dipped sharply lower Thursday evening ET as results
from the British referendum continued to roll in.
Dow Jones futures briefly saw an implied open down more than 400 points,
before then recovering some of those losses. Those moves, however, occurred on
extremely light volume.
Asia stocks are weak, with Nikkei tumbling over 500 points.
Source : MoneyControl.Com
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