With more over 51% of the Brits voted in favor of ‘leave’, the Pound Sterling crashed to a 31-year’s low against the US dollar. Similarly, the Indian rupee breached 68 mark, its lowest level since March 1, 2016.
Britain’s referendum to whether to stay with the European Union or leave took a massive toll on World stock markets and currencies on Friday. Dalal Street, too, bore the brunt with India’s benchmark Sensex nosediving 785 points in the early trades today. Besides, other Asian stock markets also witnessed a free fall with key benchmark indices tumbled between 1.1% to 7.2%. The NSE Nifty is currently trading 2.7% down at 8,043. However, it breached the 8K mark in the early trades.
With more over 51% of the Brits voted in favor of ‘leave’, the Pound Sterling crashed to a 31-year’s low against the US dollar. Similarly, the Indian rupee breached 68 mark, its lowest level since March 1, 2016.
At BSE, companies with significant exposure in the UK suffered a major set back with Tata Motors plunging 8% to Rs. 447 and Motherson Sumi crashing by 9% to Rs.274.95. Among other notable losers, Unitech fell by 8% to Rs.5.35, Future Enterprise 8.7% to Rs.21.40 and Indiabulls Real Estate by 7.3% to Rs. 85.55.
However, the Brexit episode helped the global gold prices to soar to US$ 1,327 an t oz at Comex, the highest level since July 14, 2015.
Among other Asian stock markets, Japan’s Nikkei index plummeted by 7.8% to 15,057 points, China’s Shanghai Composite at 2,857 points (-1.21%), Singapore’s Straits Times at 2,726 points (-2.49%), Hong Kong’s Hang Seng at 20,070 points (-3.98%), South Korea’s Kospi index at 1,917 points (-3.65%), Taiwan’s Taiex at 8,468 points (-2.46%), and Singapore Nifty at 8,045 points (-3.17%).
Britain’s referendum to whether to stay with the European Union or leave took a massive toll on World stock markets and currencies on Friday. Dalal Street, too, bore the brunt with India’s benchmark Sensex nosediving 785 points in the early trades today. Besides, other Asian stock markets also witnessed a free fall with key benchmark indices tumbled between 1.1% to 7.2%. The NSE Nifty is currently trading 2.7% down at 8,043. However, it breached the 8K mark in the early trades.With more over 51% of the Brits voted in favor of ‘leave’, the Pound Sterling crashed to a 31-year’s low against the US dollar. Similarly, the Indian rupee breached 68 mark, its lowest level since March 1, 2016.
At BSE, companies with significant exposure in the UK suffered a major set back with Tata Motors plunging 8% to Rs. 447 and Motherson Sumi crashing by 9% to Rs.274.95. Among other notable losers, Unitech fell by 8% to Rs.5.35, Future Enterprise 8.7% to Rs.21.40 and Indiabulls Real Estate by 7.3% to Rs. 85.55.
However, the Brexit episode helped the global gold prices to soar to US$ 1,327 an t oz at Comex, the highest level since July 14, 2015.
Among other Asian stock markets, Japan’s Nikkei index plummeted by 7.8% to 15,057 points, China’s Shanghai Composite at 2,857 points (-1.21%), Singapore’s Straits Times at 2,726 points (-2.49%), Hong Kong’s Hang Seng at 20,070 points (-3.98%), South Korea’s Kospi index at 1,917 points (-3.65%), Taiwan’s Taiex at 8,468 points (-2.46%), and Singapore Nifty at 8,045 points (-3.17%).
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