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Mkts end lower over Greece fears
Mkts end lower over Greece fears. After a bloodbath initially on the street, the markets have managed to recover cut losses at the closing hours of the trade on Monday. The investors appear to be cautious over Greece crisis ahead of the deadline June 30 for payment to IMF.
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Mumbai: After a bloodbath initially on the street, the markets have managed to recover cut losses at the closing hours of the trade on Monday. The investors appear to be cautious over Greece crisis ahead of the deadline June 30 for payment to IMF.
Sensex closed down 167 points at 27,645 and Nifty ended down 63 points at 8,306. Meanwhile, broader markets also declined with midcap and smallcap closing with about 1.6 per cent each. Though, experts believe that the Greece crisis will have lesser impact on India, however officials feel there will be outflow of capital which may cause a bid of volatility in the markets.
However, more than the Greece crisis, the Indian markets will be impacted by monsoon behaviour in July, besides the government’s ability to pass the stuck bills like GST, Land acquisition etc.
Banks and stock exchanges in Greece were closed for whole of the week, while the country is moving towards referendum on whether to accept creditors' demands or exit out of Euro zone. On the sectoral front, all indices closed in red with realty topping the list with the declining 2.2 per cent, followed by IT and metal indices etc.
While banks closed mixed with SBI, Axis Bank and HDFC Bank ended down up to 2 per cent each, however, ICICI Bank closed flat and HDFC gained marginally. On the other hand, metal stocks witnessed profit taking with Hindalco, Tata Steel and Vedanta fell up to 4 per cent.
Interestingly, FMCG stocks recovered with ITC and HUL reporting gains up 0.5 to 2 per cent each. Reliance Industries ended down 0.9 per cent as the company announced annual shutdown of the refinery for about 10 days.
The gainers: Hindustan Unilever, up 1.54 per cent at Rs 900.05; NTPC, up 0.80 per cent at Rs 138.75; ITC, up 0.53 per cent at Rs 310.15; Larsen and Toubro (L&T), up 0.44 per cent at Rs 1,787.80; and Bajaj Auto, up 0.41 per cent at Rs 2,550.60.
The losers: Hindalco Inds, down 3.55 per cent at Rs 112.80; State Bank of India (SBI), down 2.08 per cent at Rs 259.55; Tata Motors, down 2.07 per cent at Rs 428.85; Sun Pharma, down 2.03 per cent at Rs 849.65; and Maruti Suzuki, down 1.93 per cent at Rs 3,994.95.
