Market likely to open in negative

Indian equities indices advanced on Thursday tracking firm trend in European markets as UK voters began to cast ballots on ‘Brexit’ referendum. The Nifty index closed with a gain of 66.75 points or 0.8% at 8270.45 and The Sensex was up 236.57 points or 0.88% at 27002.22. The BSE Mid-Cap index rose 0.27%. The BSE Small-Cap index fell 0.04%. Both these indices underperformed the Sensex. The rupee strengthening by over 15 paise against dollar, too supported the market.

US stocks closed higher on Thursday as investors wagered that the U.K. will choose to remain in the European Union in a historic referendum with far-reaching implications. The Dow Jones Industrial Average surged 230.24 points, or 1.3%, to settle at 18,011.07. The S&P 500 gained 27.87, or 1.3%, to 2113.32, and the Nasdaq Composite advanced 76.72, or 1.6%, to 4910.04.

European stock markets surged on Thursday on expectations that U.K. voters will choose to stick with membership in the European Union. The Stoxx Europe 600 popped up 1.5% to 346.34. It was the fifth consecutive rise for the pan-European index. FTSE 100 was recently up 1.46% at 6,350.62. The DAX climbed 1.92% to 10,264.36 and the CAC 40 jumped 1.97% to 4,466.20.

Markets in Asia opened in red on Friday as UK referendum polls lean towards Brexit. Japan's Nikkei 225 index darted between gains and losses and currently is trading 1.84% lower while across the Korean Strait, the Kospi was down 0.64%. Australia’s S&P/ASX 200 and New Zealand’s S&P/NZX 50 Indices have declined 1.91% and 0.68% respectively. Chinese markets opened lower with the Shanghai composite shedding 0.53%.

On the domestic front, A SGX Nifty 50 index future for June series is trading down by 140 points at 8,160. Indian markets are likely to open in negative and going forward they may be fiercly volatile.