Indian stock markets fell sharply in morning on Monday and security yields ascended as Greece looked set to default on its obligation reimbursement this week, starting worries about outside offering in developing markets.
The Sensex opened 450 focuses in the red and was soon exchanging 600 focuses down, while the Nifty fell below 8,200 levels. In cash currency, the rupee fell to 63.90/dollar against Friday’s end of 63.64 while the euro fell just about 2 for every penny against the dollar.
At 11:30, the Sensex was down about 571 points to 27,240, while the Nifty tumbled to 8,205.
Greece shut its banks for a week and forced capital controls on Sunday to check the developing strains on its handicapped budgetary framework, bringing the possibility of being constrained out of the euro into plain sight.
Nifty Top @ Losers:- Hindalco 4.74%, Tech-mahindra 4.62%, SBIN 3.36%, HCL Tech 3.25%, ICICI bank 2.97%, Sun Pharma 2.95%, Tata motors 2.82%, NMDC 2.80%, ACC 2.66%.