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 central government has agreed to transfer Hotel Jaipur Ashok at Jaipur and Lalitha Mahal Palace Hotel at Mysore of India Tourism Development Corporation Ltd (ITDC) to Rajasthan and Karnataka governments, respectively and disinvest ITDC shares in Donyi Polo Ashok Hotel Corporation. The ca
Rohingya people who have entered India are not refugees but illegal immigrants, home minister Rajnath Singh has said, as they have not followed the due procedure to acquire a refugee status. “By deporting Rohingyas from India, we are not violating any international law. India is not a
Lucknow, September 15 The Uttar Pradesh Police releases official data on crime control under the new dispensation of Chief Minister Yogi Adityanath. Reveals that in 180 days of the new government, 420 encounters have taken place leading to the elimination of 15 supposedl
Since the dawn of this century, owing to their growing interdependence, India’s ties with the African states have gradually been acquiring significance in a rapidly globalising world. Such interdependence is manifesting itself quite clearly in economic, developmental and politico-strategic spheres of
Over the last decade, Chennai has been witnessing an unprecedented increase in urban population and a large expansion of industrial areas in its suburban regions. This expansion has largely been unorganised and haphazard. In order to regulate growth and make it uniform, the Tamil Nadu government has decide
The telecom regulator has opted for Bill and Keep, BAK, model for interconnection usage charges, that one operator pays to the other for call termination. At one stroke, the telecom regulatory authority of India (TRAI) regulation on interconnection has facilitated savings of Rs 5,000 crore to Reliance Jio