Sensex off day’s low, down 700 pts on Brexit; Nifty above 8050

The market continued to bleed though it recouped nearly 400 points losses on the Sensex in afternoon trade following recovery in Europe. The United Kingdom’s decision to leave European Union hurt market sentiment globally today.

The 30-share BSE Sensex fell 687.60 points or 2.55 percent to 26314.62 and the 50-share NSE Nifty slipped 213.45 points or 2.58 percent to 8057.

The market breadth was recovered a bit as about five shares declined for every share falling against earlier ratio of 10:1.

France’s CAC, Germany’s DAX and Britain’s FTSE reduced its losses to 4-7 percent from 7-10 percent earlier, led by short covering as investors digested Brexit event.

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Posted in: Indian Market Tips