Sensex Ends Higher; European Markets Recover As Brexit Fears Recede

Business

oi-Sunil Fernandes

By Sunil Fernandes

Updated: Friday, June 17, 2016, 15:31 [IST]

Benchmark indices ended the day higher, as Asian and European markets recovered as fears of a Brexit receded, following the killing of a UK politician, which many believe would now turn the tide against a Brexit.

Several online polls have placed the chances of a Brexit much higher, but, the killing may now change that. This resulted in buying across European markets, most of which were trading 1 per cent higher.

Read all about the Brexit and impact in India here

The Sensex ended the day with gains of 100 points, while the Nifty rallied 16.75 points in trade.

Leading the set of gainers in trade were HDFC, Tata Motors, Coal India, Bharti Airtel and ITC.

Among stocks that lost ground were ICICI Bank, Dr Reddy's and Tata Steel. Shares in State Bank of India fell after a spectacular rally seen in the last few days.

Sugar stocks, most of which hit 52-week highs, took a pounding in trade after the government raised duties in order to tame prices.

Oudh Sugars, KCP Sugar, Dharani Sugars, Dhampur Sugars, Balarampur Chini were some of the biggest losers in trade.

Shares in Kajaria Ceramics ended higher after the company's board approved a stock split from Rs 2 to Rs 1.

Shares in Carborundum Universal also gained after foreign investors were allowed to buy higher shares in the company.

Meanwhile, the rupee recovered some ground as fears of Brexit receded. The currency was last trading at 62.07 to the US dollar. Check currency rates here.

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