INDIAN BENCHMARKS: SENSEX SURGES AROUND 240 POINTS AS BREXIT CONCERNS EASE, NIFTY CLOSE ABOVE 8230
The
S&P BSE Sensex surged over 200 points in trade on Monday as easing concerns
over Brexit vote negated the negative news of the Reserve Bank of India's (RBI)
governor Raghu Ram Rajan not continuing as the RBI governor after his term ends
in September.
The
Nifty50 reclaimed its crucial support level of 8,200 helped by gains in realty,
IT, banks, capital goods, and auto stocks.
"The
biggest event of the week is the British referendum on June 23 and this can
affect all global markets in case the Brits vote in favour of an exit from the
European Union. All major currencies, bond markets and commodities will move
according to the outcome of the British Referendum. Britain's exit will also
impact capital flows to India.”
HEADLINES OF THE DAY
Govt
approves 100% FDI in defence, aviation sectors.
Government
likely to relax FDI norms in brownfield pharma companies.
Cadila
acquires two ANDAs from Teva.
The
crucial resistance for Nifty spot is now seen at 8295 and above this 8335.
Support for the immediate term is now placed at 8160 and next support will be
8107.
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