Trading in all sectors negative due to fears of fallout due to Greece economic crisis
GN Bureau | June 29, 2015
It is manic Monday today on the stocks market despite monsoon being good at over 25% more than month’s average. The benchmark BSE Sensex tumbled over 535 points and the NSE Nifty slid below the 8,300 mark in opening trade on Monday on across-the-board selling.
The beating was merciless. All the sectoral indices were trading in the negative terrain, led by realty, capital goods and banking, with losses up to 3.16 per cent. It was triggered by weak trend in global markets and fears of a possible Greece default.
At 10.08 am, Sensex was down 457.55 points at 27,354.29. Similarly, Nifty was down 142.90 points at 8,238.20 during the same time.
The 30-share gauge, which had lost 84.13 points in the previous session, hurtled down 535.87 points, or 1.92 per cent, to 27,275.97.
Also, the NSE Nifty slipped below the 8,300 mark by skidding 166.45 points, or 1.99 per cent, to 8,214.65.
There was widespread selling by investors as well as funds. Besides, weakness in the rupee, which turned lower by 24 paise to 63.88 against the dollar in early trade at the forex market, too negatively impacted sentiment.
US equity futures dropped sharply and bond futures rallied at the beginning of trading on Sunday. Britain’s top equity index ended lower on Friday, dragged down by mining stocks, though supermarket group Tesco rose after reporting a smaller than expected decline in sales.
Japan’s Nikkei share average slipped to a one-week low.
The Greek tragedy
Greek banks will be closed and the stock market shut all week, and there will be a daily 60 euro limit on cash withdrawals from cash machines, which will reopen on Tuesday. Capital controls are likely to last for many months at least.
These measures came after bailout talks between the Left-wing government and foreign lenders broke down at the weekend. The European Central Bank froze vital funding support to Greece's banks, forcing Athens to shut down the system to keep the banks from collapsing.
The union government enforced a nationwide lockdown on March 25, 2020 to curb the spread of coronavirus as it was causing large-scale infection and disease. Challenges of pandemic management and levels of distress were revealed during this time. The fear of Covid spread like wildfire and a
Maharashtra chief minister Uddhav Thackeray has launched three state-of-the-art human DNA units under the Nirbhaya Scheme for efficiency in criminal investigations. A wildlife DNA unit in Nagpur makes Maharashtra the country’s first state to have a forensic testing lab for animals.
The Midway Battle: Modi’s Roller-coaster Second Term By Gautam Chintamani Bloomsbury / 400 pages / Rs 699 Gautam Chintamani, a film historian and author, has penned an in-depth chronicle of prime minister Narendra Modi’s second
Maharashtra chief minister Uddhav Thackeray has instructed the Mumbai civic authorities to take immediate action on unauthorized constructions on war footing. In a virtual meeting held on Wednesday, Thackeray said no illegal construction will be tolerated in Mumbai and called upon the BMC to
After extending timings of shops and restaurants as well as the reopening of cinema halls and theatres under specified SOPs from October 22, in view of the festive cheer, the Maharashtra government has allowed restaurants and eateries to remain open till 12AM and shops and establishments to function till 1
Rubbishing the recently released Global Hunger Index 2021, wherein India has slipped to 101 position to be placed below Pakistan, Nepal and Bangladesh, Arvind Panagariya, professor of economics at Columbia University and former vice chairman, NITI Aayog, has said that data collection and methodologies used