It was a consolidation day for the market on Monday as investors digested the Friday's sharp fall led by Britain's vote to leave the European Union and feels India will have minimal impact of Brexit among Asian countries. The 30-share BSE Sensex rose 5.25 points to 26402.96 and the 50-share NSE Nifty was up 6.10 points at 8094.70 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices gained 0.8 percent and 1.5 percent, respectively following positive market breadth. About 1826 shares advanced against 786 declining shares on the Bombay Stock Exchange. Tanvee Gupta Jain of Macquarie Capital Research says India will be least impacted from the Brexit event amongst its peers. Currently, there are three things playing out for India – macros are good, growth is recovering and consumption too is improving, although the recovery is not yet broadbased. "We are in the F&O expiry week so volatility is obvious, but news flow from global front especially from the European markets adding to the traders' difficulty. As a defence, it's advisable to focus more on risk management aspects at present and the rest will fall in place," says Jayant Manglik of Religare Securities. European markets extended losses as the fallout from Britain's decision to leave the European Union (EU) continues, sending the pound to a 31-year low. Germany's DAX and France's CAC were down 2 percent each followed by Britain's FTSE with 1.6 percent loss (at 16 16:15 hours IST). Asian markets ended mostly higher with the Nikkei leading rally, up 2.4 percent followed by Shanghai Composite with 1.4 percent upside.
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