Indian market is likely to be in a wait and watch mode ahead of the EU referendum Thursday. UK will vote to determine the future of Britain within the 28-member European Union. The Nifty’s support is seen around 8,050-8,100 while resistance is likely around 2016 high of 8273. Yesterday, the market attempted to rebound from the day's lows ending with slim losses. The 30-share BSE Sensex fell 47.13 points to 26765.65 and the 50-share NSE Nifty declined 16.20 points to 8203.70. The broader markets were also weak as the BSE Midcap slipped 0.12 percent and Smallcap down 0.6 percent.A poll released Wednesday from TNS indicated support for "leave" holding over "remain," Reuters reported. Pound sterling struggled to hold gains against the US dollar and was last near USD 1.470 after on Tuesday touching its highest against the greenback since early January.
Among global markets, Asia were mixed in early trade, following losses in US stocks, as investors remained on edge ahead of the UK vote on whether to leave the European Union (EU). In Japan, the Nikkei 225 was up 0.24 percent, while across the Korean Strait, the Kospi was down 0.39 percent.
US stocks closed lower weighed by declines in energy stocks. The Dow Jones industrial average closed down 48.90 points, or 0.27 percent, at 17,780.83. The S&P 500 closed down 3.45 points, or 0.17 percent, at 2,085.45. The Nasdaq composite closed down 10.44 points, or 0.22 percent, at 4,833.32.
In other asset class, gold fell to a two-week low after its biggest one-day drop in four weeks, as expectations that Britain will vote to remain in the European Union reduced risk aversion.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
