Manic Monday on Dalal Street as Greek default looms; Sensex tanks over 500 pts

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Key domestic equity benchmark indices came down crashing in a opening trade Monday, with benchmark Sensex acrobatics over 500 points amid knee-jerk greeting by investors over Greece inching closer towards a expected exclusion from a Euro section after weekend talks between a nation and a creditors unsuccessful to arrive during any solution.

The disaster to strech a understanding with creditors leaves Greece set to default on 1.6 billion euros ($1.76 billion) of loans from a International Monetary Fund that tumble due on Tuesday. Athens contingency also repay billions of euros to a European Central Bank in a entrance months, a Reuters news said.



Mirroring a diseased Asian markets trend, a 30-share SP BSE Sensex plunged to a low of 27,249.67, down 562 points from a close. At 9.50 am, a Sensex was quoted during 27,303.49, down 508.35 points, or 1.8 percent. The broader 50-stock CNX Nifty was during 8,225.70, down 155.40 points or 1.8 percent.

Market extent was intensely diseased with 1,377 bonds disappearing opposite only 232 bonds advancing on a BSE.

Other Asian indices such as Japan’s Nikkie was down 1.8 percent during 20,337.34 while China’s Hang Seng forsaken 2.4 percent to 26,034.42.

In a arise of a ongoing Greece debt crisis, jumpy domestic investors shunned realty, banking and vehicle shares a many even as other sectors, too, displayed diseased trend.

Among a vital laggards Tata Motors declined 3.5 percent to Rs 422.65, SBI eased 3.3 percent to Rs 256.20, Hindalco faltered 2.9 percent to Rs 113.60, Axis Bank fell 2.8 percent to Rs 549.55 and ICICI Bank mislaid 2.7 percent to Rs 302.90, HDFC Bank was down 2.6 percent during Rs 1,035.50.

In a realty space, Indiabulls Real Estate plunged 6.2 percent to Rs 54, DB Realty forsaken 4.8 percent to Rs 60.10, Unitech declined 4.7 percent to Rs 7.69, HDIL eased 4.5 percent to Rs 89.40 and DLF was down 4 percent during Rs 115.25.