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Market Outlook - 27th Jun 2016

Published on Jun 27th 2016

IT

Indian markets are expected to open on a Negative note tracing Global cues. US markets closed Fridays trading session on a negative note as shockwaves from the U.K.s s surprise vote to leave the European Union (BREXIT) swept across global markets. European shares plunged on Friday on account of Britains exit from the EU as the traders swiftly moved towards safe havens. Participants were expecting Britain to remain as an EU member and the vote came as a major surprise. Indian markets were first to witness the negative reaction of BREXIT as the vote tally which was in its last stages indicated that BREXIT was inevitable. The markets recovered from its lows after the Finance Minister and the RBI Governor addressed that Indias sound fundamentals and reforms would enable the country to deal with any fallout from the BREXIT.

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