Brexit anxiety prevails over Asian markets, remain bearish

Economy

World / Countries / MNCs

24 Jun 2016, 06:33 am Print

London/Mumbai, June 24 (JEN): True to the prediction of a financial market shock that the Brexit will cause, stock markets across the globe remained bearish after Britons voted for the leave EU motion.

On Friday morning the BSE Sensex in India was down 1,039.11 points or 3.85 per cent at 25,963.11.

National Stock Exchange’s NIFTY 50 was also trading down.

India's Finance Minister Arun Jaitley, however, said India is well prepared to deal with the short and medium term consequence of Brexit.

The British Pound crashed and was trading below the US Dollar 1.35 mark. The Indian Rupee too took a hit, crashing by 96 paisa.

The serious plunge have left some experts calling it a 'Black Friday'.

The Japanese Nikkei Stock Average crashed nearly three percent and the same was seen in Australian stocks too despite strong openings earlier in the day.

Despite a close battle, Britain has voted to leave the European Union in a historic referendum on Thursday as results were declared on Friday, thus severing a tie of decades and dealing a blow to the European unity.

While Prime Minister David Cameron, who campaigned hard urging voters to remain with EU, will make a statement soon, the financial markets across the world nosedived as the results reflected a 51.8 percent votes in favour of Leave and 48.2 percent to Remain in a referendum that is now famously called Brexit.

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