‘BREXIT’ has happened and the first thing is a black Friday in all financial markets globally. While equity markets fell, gold rose, crude oil fell and the British Pound touched its lowest level since 1985 falling to 1.35 to the US dollar. While the results show that 51.8 per cent voted to opt out of the EU, Scotland voted overwhelmingly to stay with the EU and this could lead to another vote some time later, of opting out of being a part of UK.

Indian markets opened weak and lost further ground initially, but recovered to close with losses of 2.24 per cent. The BSE SENSEX which was down almost 1,100 points finally lost 604.51 points or 2.24 per cent to close at 26,397.71 points while NIFTY lost 181.85 points or 2.20 per cent, to close at 8,088.60 points.