Market may see volatility ahead of Brexit referendum

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 15.20 points at the opening bell.

In overseas markets, Asian stocks were mixed today, 23 June 2016, following losses in US stocks, as investors remained on edge ahead of the UK vote on whether to leave the European Union (EU).

US stocks finished slightly lower yesterday, 22 June 2016, as polls showed the outcome of a UK referendum on whether to leave the EU remained too close to call a day ahead of the vote. An online survey showed 45% of respondents are in favor of ditching the EU while 44% prefer to stay. Nine percent of voters were undecided.

The key event in the UK and Europe is the Brexit referendum later in the global day today, 23 June 2016, where British voters will decide whether the country should remain a member of the EU or leave it.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 41.10 crore yesterday, 22 June 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 361.34 crore yesterday, 22 June 2016, as per provisional data.

Among corporate news, Bharti Airtel announced before market hours today, 23 June 2016, that Orange has completed the acquisition of 100% of the operations of Airtel in Burkina Faso via its subsidiaries. The company shall update the exchange regarding the process for Sierra Leone as and when it is completed.

Lupin announced after market hours yesterday, 22 June 2016, that it has received final approval for its Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1mg/0.5 mg) from the United States Food and Drug Administration (FDA) to market a generic version of Amneal Pharmaceuticals' Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/ 0.5 mg).

Lupin's Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5mg) are the AB rated generic equivalent of Amneal Pharmaceuticals' Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5 mg). Amabelz Tablets 0.5 mg / 0.1 mg and 1 mg / 0.5 mg are indicated in a woman with a uterus for treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Amabelz Tablets 1 mg/0.5 mg is also indicated in a woman with a uterus for treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. Activella had annual US sales of $95.6 million as per IMS MAT March 2016.

IndusInd Bank turns ex-dividend today, 23 June 2016 for dividend of Rs 4.50 per share for the year ended 31 March 2016 (FY 2016).

Key benchmark indices logged small decline in volatile trading session yesterday, 22 June 2016. The barometer index, the S&P BSE Sensex, fell 47.13 points or 0.18% to settle at 26,765.65. The Nifty 50 index fell 16.20 points or 0.20% to settle at 8,203.70.

Powered by Capital Market - Live News