Mayhem across the globe after UK voted to leave European Union rattled Indian equity benchmarks as well on Friday. The correction was not only seen in equity but also in currencies and commodities except gold & silver.
If there is a Brexit, then the global confidence is sure to be shattered with questions on growth being asked and there will be ramifications which will take a long time to play out, said Ananth Narayan, Head, Financial Markets, Standard Chartered Bank.
The UK referendum is on a knife-edge and it is very difficult to predict, says Michael Every of Rabobank.
Results from the UK Referendum on EU membership are trickling in. Sanjay Suri of CNBC-TV18 gives us the latest on the counting which is underway.
According to the global financial services major, while the medium term outlook of the economy remains constructive, latest data releases are "somewhat disappointing".
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 percent while Japan's Nikkei declined0.4 percent.
The 30-share BSE Sensex plunged 257.20 points or 0.95 percent to 26763.46 and the 50-share NSE Nifty declined 69.45 points or 0.84 percent to 8203.60 while the broader markets remained sideways. SGX Nifty indicates a flat start for the market.