Brexit Impact On Domestic Markets
Brexit, Britain’s exit from European union influenced the whole world causing a lot of volatility. Brexit took away around Rs 4 Lakh Crore from Indian markets. Maximum loss is afforded by the Tata group as Tata group have significant exposure to the UK and European markets. Top group companies — Tata Motors, Tata Steel, Tata Elxsi, Tata Global Beverage and TCS which together are 83% of total market capitalisation of the Tata Group companies. Market capitalization of the Tata group companies had a sharp drop of Rs 29898 crore. Traders lost around Rs 13243 Crore on a single day.
Sensex deviated from the positive graph straight back to the 1000 points negative graph. However it managed to get back 400 points and closed at 26397 and Nifty dropped 181 points to 8088 points. All the Indian sectors traded highly negative touching the grounds. In Asian markets, Nikkei being the highest loser dropped 1286 points to 14952. All other indexes in the Asian markets traded down to negative. In Bullion market, Gold prices topped 26 months prices yesterday. Prices increased Rs 1487 to Rs 31,401 per ten grams. Silver prices paced up too with increase of Rs 1202 to Rs 42,392 per kg. Crude oil prices dropped Rs 89 to 3266 while Natural Gas prices remained all the more same at Rs 181.
Originally published at tipsstockcommodity.blogspot.in.