Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 192.70 points at the opening bell as early results from the "Brexit" referendum surprised investors and sent them rushing back to haven assets.

The UK's vote on whether the country should stay in or leave the European Union (EU) is quickly becoming a make or break event for global markets. Global markets had initially reacted positively as voting came to a close. British referendum to determine whether the UK remains a member of the EU is dubbed Brexit. Voting in the referendum closed at 10 p.m. London time yesterday, 23 June 2016. Early voting returns suggested UK was on the brink of leaving the EU, threatening the existence of the entire bloc and its single currency. Early official results showed the margins were tight but pointing to a "leave".

In overseas markets, Asian markets tumbled today, 24 June 2016, as investors reacted nervously to early results from the UK referendum on whether to leave the EU. A stronger showing by the "leave" vote triggered selling of shares in companies that have strong business ties with the UK. In the foreign exchange market, the yen -- considered a safe-haven currency -- strengthened to 103 against the dollar on fears of a looming Brexit.

US stocks closed higher yesterday, 23 June 2016, with all three indexes rallying, as investors wagered that the UK will choose to remain in the EU in a historic referendum.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 81.87 crore yesterday, 23 June 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 203.56 crore yesterday, 23 June 2016, as per provisional data.

Among corporate news, Sun Pharmaceutical Industries announced after market hours yesterday, 23 June 2016, that its board approved buyback of the company's equity shares. The company will buyback 75 lakh shares from the public at a price of Rs 900 each. The buyback price is 19.73% above the company's last traded price of Rs.751.70 on the BSE. The company said that the buyback aims to return surplus funds to shareholders and enhance overall returns for them. The record date for the buyback is 15 July 2016. Under Securities and Exchange Board of India (Sebi) guidelines, 15% of the buyback offer is reserved for small investors holding shares worth not more than Rs 2 lakh as on the record date.

State Bank of India (SBI) announced after market hours yesterday, 23 June 2016, that a meeting of the executive committee of the central board of the bank is scheduled to be held on 29 June 2016 at Mumbai. The committee will examine the status and decide on long term fund raising in single/multiple tranches up to $1500 million through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the financial year 2016-2017.

Gains in European stocks triggered by a pair of opinion polls predicting that British voters will vote for Britain to remain in the European Union in a landmark referendum aided the upmove on the domestic bourses yesterday, 23 June 2016. The barometer index, the S&P BSE Sensex, gained 236.57 points or 0.88% to settle at 27,002.22. The Nifty 50 index rose 66.75 points or 0.81% to settle at 8,270.45. The Sensex regained the psychologically important 27,000 mark. Banking stocks and index heavyweights ITC and Infosys led the gains for the two key benchmark indices. The Sensex and the Nifty, both, attained their highest closing level in more than two weeks.