Nifty Ends Higher; Global Markets On Edge As UK Votes On EU Referendum

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Indian benchmark indices ended the day higher, as global markets remained on the edge, even as Britishers voted for a referendum to stay or leave the EU.

Nifty Ends Higher; Global Markets On Edge As UK Votes On EU Referendum
Most Asian markets closed higher, as the odds of the UK staying in the European block was seen as the more likely of the outcomes.

The Sensex ended the day 236 points higher, even as most Asian markets gained in trade. European markets themselves were trading higher, on hopes that the UK would stay in the EU.

Stocks that are largely linked to the EU vote, were volatile in trade. Tata Motors, which has manufacturing facilities for Jaguar land Rover plant in the UK, ended the day higher.

Tech Mahindra, which also derives a lot of revenue from the UK ended the day lower. TCS was another stock that ended with losses ahead of the UK referendum.

Shares in KEC International surged after the company won sizeable orders. Jain Irrigation rallied 5 per cent, after Morgan Stanley upgraded the company to overweight from equal-weight and raised its price target on the stock.

Natco Pharma was up after the company got a US FDA nod for Glycopyrrolate from Kothur, Mahbubnagar plant. The stock was up 5 per cent in trade.

Meanwhile, markets across Asia were trading with gains, following a sharp recovery n global stocks. European markets were higher led by the UK's FTSE and the German DAX on the hopes that UK would vote to stay in the EU.

The rupee was last trading at Rs 67.38 to the US dollar. Check and convert currency rates here

Read more about: nifty, sensex, eu
Story first published: Thursday, June 23, 2016, 14:40 [IST]
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