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Sensex in wait-and-watch mode ahead of ‘Brexit’ vote

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Mumbai:The benchmark BSE Sensex recovered nearly 48 points in early cautious trade today as participants widened their bets in select stocks, tracking a slightly better trend in other Asian markets just hours before the start of Britain’s referendum vote.

The 30-share index rose 47.92 points or 0.17 per cent at 26,813.57 with sectoral indices such as healthcare, auto, FMCG, banking and metal being in the positive zone.

The gauge had lost 101.27 points in the previous two sessions.

The NSE index Nifty was also trading 8.65 points or 0.10 per cent higher at 8,212.35.

Traders said selective buying in line with a slightly better trend in other Asian markets in thin trading, just hours before the start of Britain’s referendum on its futures in the European Union, influenced trading sentiment here.

Moreover, rupee recovering by 15 paise to 67.33 against the US dollar in early trade at the forex market supported the upside in equities.

Meanwhile, RBI yesterday said it is keeping a watch on Brexit developments and will take necessary steps including liquidity support to ensure orderly conditions in the financial markets.

Sebi and stock exchanges have also beefed up surveillance mechanism to deal with any excessive volatility in the run up to the ‘Brexit’ referendum whose outcome is keenly awaited by the investors.

Elsewhere in Asia, Hong Kong’s Hang Seng was up 0.24 per centwhile Japan’s Nikkei was 0.48 per cent higher in morning trade today. Shanghai Composite Index shed 0.34 per cent.

The US Dow Jones Industrial Average ended 0.27 per cent lower in yesterday’s trade

PTI

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