Brexit day ; Today Indian Stock Market Closing Bell

Today Nifty ends tad below 2016-closing high ahead of Brexit votes Tata Motors, Dr Reddy's Labs, SBI, HDFC Bank and Axis Bank were top gainers while NTPC, Cipla, TCS, Asian Paints and ONGC were losers in the Sensex. 

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Today The Nifty ended tad below 2016 closing ahead of Brexit vote. The 50-share index is up 66.75 points or 0.8 percent at 8270.45. The Sensex was up 236.57 points or 0.9 percent at 27002.22. About 1093 shares have advanced, 1498 shares declined, and 183 shares are unchanged. 

Tata Motors, Dr Reddy's Labs, SBI, HDFC Bank and Axis Bank were top gainers while NTPC, Cipla, TCS, Asian Paints and ONGC were losers in the Sensex. Tata Motors, Tata Steel, Bharat Forge, Hindalco, Infosys, TCS and Tech Mahindra are the stocks that will get impacted by outcome of Britain's referendum. 

According to reports, Indian IT companies get anywhere from 6-18 percent of their revenues from the UK. The UK has traditionally been the gateway for Indian IT firms to enter Europe and they have set up a large presence in the UK to serve the EU markets from their headquarters in London. The United Kingdom is voting today on whether to remain in or leave the 28-nation European Union. 

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The Stock market breadth remained positive as about two shares advanced for every share falling on BSE. Earn More without Loss For more technical or fundamental expert advice just visit on www.marketmagnify.com or give Missed call us at 78-79-88-11-22 

Max Financial Services shares rallied 20 percent and HDFC gained 2 percent intraday after a media report indicated there are merger talks between companies for their life insurance business. 

Axis Bank also gained over a percent as the bank holds 5.99 percent stake in Max Life. Tata Motors, Maruti Suzuki, Dr Reddy's Labs and Coal India added a percent while Infosys, Sun Pharma, L&T and Tata Steel were marginally lower. 

The S&P BSE Sensex gained 153 points to quote at 26,679 and the Nifty50 rose 37 points to trade at 8,176. Max Financial Services has zoomed 20% to Rs 514, also its 52-week high on the BSE in intra-day trade on heavy volumes. 

The rally comes on the back of reports that HDFC Life and Max Life are in talks to create the country's biggest private life insurer. V-Guard Industries has rallied 11% to Rs 1,470, also its record high on the National Stock Exchange (NSE) after the company announced that its board approved the proposal for splitting of equity shares in the ration of 1:10.