Sensex, Nifty bleed as Britain to break away from EU; banks fall

Market mayhem continues on Dalal Street as UK decides to leave European Union. The Sensex is down 940.99 points or 3.5 percent at 26061.23, and the Nifty down 297.50 points or 3.6 percent at 7972.95. About 182 shares have advanced, 1911 shares declined, and 73 shares are unchanged.

Tata Motors, Tata Steel, ICICI Bank, Axis Bank and SBI are losers in the Sensex. Auto, banks, metals are bleeding.

Britain has voted to leave the European Union, results from Thursday’s landmark referendum showed, an outcome that sets the country on an uncertain path and deals the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as nearly complete results showed a 51.8/48.2 percent split for leaving. Sterling suffered its biggest one-day fall of more than 10 percent against the dollar, hitting a 31-year low on market fears the decision will hit investment in the world’s 5th largest economy.
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Posted in: Indian Market Tips