"Indian markets should perform better compared to most other emerging markets and also the developed markets," says Dipen Shah, Senior Vice-President and Head, Private Client Group Research. The Indian market , however, has to worry about another more major event: The upcoming big Foreign Currency Non-Resident (FCNR) fixed deposit redemption due in September. When Indian markets began trading Monday last week, they had to factor-in the impact of Rexit: the Reserve Bank of India Governor Raghuram Rajan's exit from the central bank once his term finishes in September. However, Brexit took the market by surprise as most opinion polls were suggesting that Britain will vote to remain in the EU. Since Brexit has already happened, the rate increase by the US central bank may not happen soon.

Source: Economic Times June 27, 2016 01:06 UTC