Equity benchmarks extended upside in afternoon trade. The Sensex gained 86.40 points at 26484.11 and the Nifty rose 29.05 points to 8117.65.

The market breadth remained strong as about three shares advanced for every share declining on BSE.

Europe opens: European stocks opened sharply lower as the fallout from Britain's decision to leave the European Union (EU) continues, sending the pound falling as well. The pan-European STOXX 600 was down 1.12 percent.

 London's FTSE 100 index was down 0.82 percent despite futures earlier trading a lot lower. Investor sentiment was hard-hit on Friday when results of the UK referendum on EU membership went the way of the Brexit camp. Uncertainty over what this meant for Britain's future led to turmoil in global financial markets, with the pound slumping and stocks around the world tanking.

ITC, L&T, SBI, ICICI Bank, Axis Bank, HUL, Adani Ports, Dr Reddy's Labs and NTPC gained 1-2 percent while TCS, Infosys and Wipro fell 1-3 percent.

BUY VEDANTA FUTURE ABOVE 119.80 TG 120.20, 120.80, 121.80 SL 119.20,

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 Equity benchmarks extended upside in afternoon trade. The Sensex gained 86.40 points at 26484.11 and the Nifty rose 29.05 points to 8117.65. The market breadth remained strong as about three shares advanced for every share declining on BSE. 12:45 pm Europe opens: European stocks opened sharply lower as the fallout from Britain's decision to leave the European Union (EU) continues, sending the pound falling as well. The pan-European STOXX 600 was down 1.12 percent. London's FTSE 100 index was down 0.82 percent despite futures earlier trading a lot lower. Investor sentiment was hard-hit on Friday when results of the UK referendum on EU membership went the way of the Brexit camp. Uncertainty over what this meant for Britain's future led to turmoil in global financial markets, with the pound slumping and stocks around the world tanking.

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