Property companies gained today, with Precinct Properties rising 2.5 per cent to $1.24, Summerset Group Holdings up 1.6 per cent to $4.36, Argosy Property advancing 1.4 per cent to $1.125, and Vital Healthcare Property Trust gaining 1.3 per cent to $2.195.
"Most of our companies don't have too much exposure to the UK or even European markets," Williamson said. "Our big markets are Australasia and the US, we're not too reliant and the uncertainty is probably around the impact the decision might have on world economic growth."
Kiwi Property Group gained 0.4 per cent to $1.45. At 5pm, it announced it will defer a planned retail bond offer of seven-year fixed rate senior secured bonds due to significant continued market volatility following the UK referendum.
Xero fell 2.4 per cent to $17.10. The accounting software company, which is yet to post a profit, was sold off heavily in Friday's turmoil but bounced on Monday.
"You are going to see volatility among those higher-risk companies - they're not profitable, it's difficult to value them on fundamentals so investors are more likely to buy and sell on a whim," Williamson said.
Meridian Energy dropped 2 per cent to $2.47, Tegel Group fell 1.8 per cent to $1.62 and Sky Network Television dropped 1.7 per cent to $4.58.
Outside the main index, Smiths City Group gained 3.7 per cent to 56c. Chief executive Roy Campbell has increased his holding in the retailer he joined last year, buying shares in an off-market purchase. His now holds 0.07 per cent.