Sensex ends 167 points down, Nifty above 8,300; Tech Mahindra
top loser, down over 7%
Greeks woke up to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.After receiving no extra emergency funding for Greek lenders from the European Central Bank, Prime Minister Alexis Tsipras sombrely announced capital controls in a televised address on Sunday night to prevent banks from collapsing under the weight of mass withdrawals. After a bad day of slaughter on Greek worries, the market finally managed to pick up some strength towards end. The Sensex was down 167 points or 0.6 percent at 27645, and the Nifty slipped 54 points or 0.6 percent at 8326. About 896 shares advanced, 1791 shares declined, and 154 shares were unchanged. Greece has less than 48 hours to pay back 1.6 billion euros ($1.77 billion) of International Monetary Fund loans, and a default would set in train events that could lead to the country's exit from the euro currency.
After tumbling over 602
points in early trade spooked by Greece concerns that may trigger capital
outflows, the Sensex recovered
over 435 points, powered by gains in HUL, ITC, L&T, ICICI Bank and Dr
Reddy’s, but still closed down over 166 points. Also, the broader Nifty after
dipping below the 8,200-point mark, recovered most of losses to close 62 points
or 0.75 per cent down at 8,318. Intra-day, it shuttled between 8,195.and 8,329.Over the weekend, the Greece PM calling for a referendum
on the proposal put forward by the lenders-cum-rescuers and the IMF mandated
economic reforms the markets have got shocked Asian markets have opened down by
anywhere between 1% and 1.5%, the SGX July Nifty is down at 8269 as we write
this Market Outlook. In all likelihood, it would be a large gap down and then
there could be a recovery up until midday and then once Eurozone bourses open
we could see selling resuming again. Heavy selling pressure was seen in automobile,
information technology , healthcare, bank, consumer durables, capital goods,
technology, entertainment and media , metal, oil and gas and realty sectors.Greeks woke up to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.After receiving no extra emergency funding for Greek lenders from the European Central Bank, Prime Minister Alexis Tsipras sombrely announced capital controls in a televised address on Sunday night to prevent banks from collapsing under the weight of mass withdrawals. After a bad day of slaughter on Greek worries, the market finally managed to pick up some strength towards end. The Sensex was down 167 points or 0.6 percent at 27645, and the Nifty slipped 54 points or 0.6 percent at 8326. About 896 shares advanced, 1791 shares declined, and 154 shares were unchanged. Greece has less than 48 hours to pay back 1.6 billion euros ($1.77 billion) of International Monetary Fund loans, and a default would set in train events that could lead to the country's exit from the euro currency.
TOP GAINERS AND LOSERS ARE:
Top Gainers
NTPC 0.80 % , HIND. UNILEVER 1.54 % , ITC LTD 0.53 %
Top Losers
HINDALCO -3.55 % , SBI -2.8%, WIPRO-1.23 % , SUN PHARMA -2.03 % , TATA MOTORS -2.07 %
NTPC 0.80 % , HIND. UNILEVER 1.54 % , ITC LTD 0.53 %
Top Losers
HINDALCO -3.55 % , SBI -2.8%, WIPRO-1.23 % , SUN PHARMA -2.03 % , TATA MOTORS -2.07 %
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