Sensex Ends Flat As Brexit Fears Haunt Global Markets

Business

oi-Sunil Fernandes

By Sunil Fernandes

Updated: Tuesday, June 14, 2016, 15:36 [IST]

Markets across the globe from Asia to Europe declined as worries mounted that Britain was likely to exit the Euro, as almost all new online polls pointed in that direction.

The UK would hold a referendum on June 23rd to decide whether the country should stay in the European Union or not.

There are worries now that should Britain exit the zone, it might lead to damaging consequences for the Eurozone, which could even lead to gradual disintegration.

The Sensex ended the trade flat at 26395.71 points, while the Nifty fell 1.75 points on those fears.

Select banking stocks saw buying interest after the Reserve Bank of India allowed some leeway with regards to stressed assets.

Punjab National Bank was the top gainer from the space jumping as much as 4 per cent. Other notable gainers were Oriental Bank of Commerce and State Bank of India.

Shares in Deepak Fertilisers rallied after the company said that the government would be paying back subsidy amounts due to the company.

Zee Entertainment and Ultratech Cement were the top losers from the Nifty space.

Delta Corp also gained after one of its subsidiaries was granted a license by the Government of Goa to operate vessel M V Royale Flotel - Deltin Caravela in Mandovi River.

Meanwhile, markets across Europe were trading weak for the third straight day after worries over a likely Brexit.

The German DAX, French CAC and the UK's FTSE were all higher in trade.

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