24/06/2016 9:49 AM IST | Updated 15/07/2016 8:27 AM IST

Asia Markets In Red: Sensex Plunges 1,000 Pts On Brexit Vote

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Crisis in the stock market

Markets across Asia were highly volatile on anxiety over the Brexit referendum as the UK voted to leave the EU.

Sensex plunged 604.51 points to end a day of volatility at 26,397.71. Nifty nosedived 181.85 points to close at 8,088.60.

As of 10:33 am, the BSE Sensex was down 1,039.11 points or 3.85 per cent at 25,963.11. It had recovered only slightly as of 1:13 pm, still down nearly 815 points or 3 per cent, at 26,187.30. It had opened in red and was trading at 839 points, down 3.11 per cent at 26,162.53 in early morning trade.

National Stock Exchange’s NIFTY 50 was also trading at 7,967.85, down 302.60 points or 3.66 per cent as of 10:23 am. NIFTY was earlier trading at 8,028.55, down 241.90 points or 2.92 per cent as of 9:20 am. Some market observers are calling it "Black Friday."

Currencies worldwide also saw high volatility, and rupee crashed by 96 paise to breach the 68-level against the US dollar. The British pound crashed to below $1.35, its lowest level since 1985.

In Tokyo, the Nikkei Stock ended down 7.9 percent at 14,952.02 points, after falling as low as 14,864.01 at one point, its weakest since October 2014.

The Nikkei's drop was its steepest since March 2011, when threats of a nuclear catastrophe following a powerful earthquake and tsunami had sent financial markets reeling.

Australia's benchmark stock index sank more than 3.17 percent and New Zealand stocks slumped more than 2 percent on Friday.

The S&P/ASX 200 index fell 3.17 percent, or 167.484 points, to end the session at 5,113.20. Earlier in the day, the S&P/ASX 200 was down 156.8 points, or 3.1 percent, to 5,123.9 at about 0245 GMT, joining the sea of red across Asian markets.

With agency inputs