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Brexit rattles Indian markets

Sensex which opened at 26,367.48 points, provisionally closed at 26,397.71 points

Policy Pulse
Publish Date: Jun 24 2016 8:54AM | Updated Date: Jun 24 2016 5:14PM

Brexit rattles Indian markets

Britain's decision to exit from European Union rattled the Indian financial markets on Friday, even though key government officials tried to calm investors.

 

Equity indices dipped over four per cent, as an initial reaction to Brexit vote, but later stabilised in the late-hour trade. 

 

Nifty plunged by 181.85 points or 2.20 per cent at 8,088.60 points.

 

Sensex which opened at 26,367.48 points, provisionally closed at 26,397.71 points (at 3.30 p.m) - down 604.51 points or 2.24 per cent, from its previous close at 27,002.22 points. 

 

It touched a high of 26,367.48 points and a low of 25,911.33 points in the intra-day trade.

 

Finance Minister Arun Jaitley and Reserve Bank of India Governor Raghuram Rajan sought to calm the markets and assured that there was no cause for panic as India's economic fundamentals remained strong along with other macro indicators.