Markets have opened sharply lower, amid weak Asian cues, after early counting on the EU referendum indicate that ‘leave’ votes are slightly more than ‘remain’. Sharp decline in the rupee further accentuated the fall.
At 9:48 am, the S&P BSE Sensex lost 813 points to quote at 26,189 and the Nifty50 shed 260 points to trade at 8,010.
GLOBAL MARKETS
Asian markets pared early gains and turned negative after investors turned sellers after initial results of the EU referendum indicated probability of Britain leaving the European Union compared to the earlier opinion poll predictions of ‘remain’.
Shares in Hong Kong were also sharply lower with the Hang Seng down nearly 3% while the Straits Times eased nearly 1%.
US stocks ended over 1% higher on Thursday after opinion polls indicated that the Britain is most likely to remain a member of the European Union.
The Down Jones industrial average ended up 1.3% at 18,011, the S&P 500 ended up 1.3% at 2,113 and Nasdaq Composite ended up 1.6% at 4,910.
