Live: Sensex Plunges 500 Points; Selling Visible Across Board

12:45 p.m.: Yields on the 10-year government bonds issued by peripheral European countries such as Spain and Italy jump 10.07 per cent and 10.10 per cent respectively as investors resorted to selling bonds as these countries also have high exposure to debt.

12:38 p.m.: Miachael Evry of Rabobank told NDTV that it is highly improbable that creditors will soften stance on Greece and it is highly unlikely that Greece will pay back its debt.

12:32 p.m.: European stock markets face sell off; Germany's DAX plunged 4.5 per cent, French CAC 40 index tanked 4.3 per cent and Britain's FTSE 100 fell 2.2 per cent.

12:25 p.m.: The Chinese stock markets trade on highly volatile note. The Shanghai Composite was down 3.4 per cent and Shenzen 300 index fell 3.5 per cent.

12:20 p.m.: Nifty 8,000 put option was the most active put option on the National Stock Exchange. The premium on the options contract jumped 112 per cent to Rs 92.25. Open interest jumped by 9.55 lakh shares to 4.59 million shares.

12:10 p.m.: The BSE auto index was down 2.25 per cent; Bharat Forge, Motherson Sumi Systems, Exide Industries, Tata Motors, MRF, Bosch, Ashok Leyland and Maruti Suzuki were among the top losers from the auto pack.

12:04 p.m.: Unitech, GVK Power Infrastructure, Suzlon Energy, Granules India, J P Associates and Reliance Communication were among the most actively traded stocks on the National Stock Exchange.

11:54 a.m.: The overall market breadth was extremely negative as 1,822 stocks declined while 444 stocks advanced.

11:45 a.m.: The BSE IT index was down 2.2 per cent; Persistent Systems, Tech Mahindra, NIIT Technologies, Lycos Internet, HCL Tech, Wipro, Infosys and Wipro were among the top losers.

11:35 a.m.: Tech Mahindra shares fell over 4 per cent to hit intraday low of Rs 499 after the company said that its Q1 revenues could see a marginal fall and its margins would be hit on the back of H1B visa cost.

11:30 a.m.: Gold jumped along with other safe haven assets on Monday after the Greece debt crisis took a turn for the worse over the weekend, with Athens looking more likely to default and exit the Eurozone. (Read)

11:20 a.m.: Hindalco, State Bank of India, ICICI Bank, HCL Technologies, ACC, Tata Motors, Sun Pharma, NMDC, Vedanta, HDFC Bank and Bosch were the top losers on the Nifty, down 3-5 per cent each.

11:09 a.m.: Banking stocks were among the worst hit in trades so far. The Bank Nifty slumped nearly 3 per cent; Bank of India, State Bank of India, ICICI Bank, Canara Bank, HDFC Bank, Kotak Mahindra Bank, IndusInd Bank and Bank of Baroda were among the top losers from this pack.

10:58 a.m.: The markets extended losses in the late morning deals. The Sensex plunged 600 points to 27,211 and Nifty fell 184 points to slip below its crucial psychological level of 8,200 on the back of selling pressure which picked up pace on fears that Greece may default on its debt and move out of the Eurozone.

10:50 a.m.: Gujarat NRE Coke, Cox and Kings, Vinta Labs, SREI Infra, Educomp, Onmobile and HCC were among the top losers from the small-cap basket of stocks.

10:40 a.m.: Shares of companies having significant revenue exposure to the eurozone fell sharply on Monday as chances of Greece exiting the Euro zone increases with Greece set to default on its debt payment. (Click here for full report)

10:15 a.m.: The Sensex was down 451 points at 27,359 and the Nifty fell 141 points to 8,240. Selling pressure was visible across sectors.

10:00 a.m.: Chinese stock markets crash again. The Shnghai Composite index plunged 3.75 per cent and the Shenzhen 300 index slumped 3.4 per cent.

9:45 a.m.: TS Harihar, chief executive and founder of HRBV Client Solutions Private, says the turmoil in global stock and equity markets could hurt Indian markets in the short term.

9:35 a.m.: From the mid-cap space, Bharat Forge was the top mid-cap loser on the Bombay Stock Exchange, the stock fell 4.6 per cent to Rs 1,064 on the back of higher Eurozone exposure. Unitech, GMR Infra, Union Bank of India, J P Power Ventures, Adani Power, Essar Oil and J P Associates were also among the laggards, down over 4 per cent each.

9:30 a.m.: All the stocks from the Nifty-50 basket were facing the heat of selling pressure. Bank of Baroda was the top Nifty loser, down 4.3 per cent at Rs 138. Punjab National Bank, State Bank of India, Tata Motors, IndusInd Bank, Hindalco, ICICI Bank, Axis Bank, HDFC Bank and Tata Steel were also trading weaker by over 2.5 per cent each.

The broader markets also faced the heat of selling pressure. The BSE mid-cap and small-cap indices plunged over 2 per cent each.

The overall breadth on the Bombay Stock Exchange was extremely negative as 1,284 stocks were declining while 186 were advancing.

9:20 a.m.: The Sensex fell over 500 points in opening deals on Monday as the financial crisis deepened in Greece as the European Central Bank and its creditors in Europe shut the door on extending a credit lifeline to Athens.

At 9:20 a.m., the Sensex was down 506 points at 27,306 and the Nifty plunged 157 points to 8,224 as the selling pressure was visible across the sectors. All the sectoral indices were quoting massive cuts. The sectoral indices on the Bombay Stock Exchange plunged 1-3 per cent each. 

Banking stocks were among the worst hit in opening trades. The Bank Nifty slumped 3 per cent 17,837. Metal, power, realty, auto and capital goods stocks were also facing the heat of selling pressure.

9:12 a.m.: The euro fell almost 2 per cent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs.

With the prospect of Greece being forced out of the euro in plain sight, the common currency fell as much as 1.9 per cent to $1.0955, its lowest in almost a month, and last stood down 1.4 per cent at $1.1007. (Click here for full report)

9:10 a.m.: Pre market session- The Nifty plunges 134 points to 8,247 and Sensex fell 361 points to 27,451 in the pre-market session.

9:00 a.m.: Rupee opens lower at 63.81 per dollar against Friday's close of 63.64.

8:30 a.m.: Below are the stocks which will be in focus today:

HDFC Bank: HDFC Bank will seek shareholders nod to appoint Malay Patel as independent director and it will also seek nod for reappointment of Aditya Puri as MD.

Union Bank of India: Union Bank of India will be in focus today as the public sector lender has got board's approval to raise around Rs 3700 crore. Meanwhile, among the public sector lenders, UBI has got maximum number of bad loans. Union Bank of India's 21.5 per cent assets are either bad of have been restructured.

ILFS Engineering and Construction Company: ILFS Engineering and Construction Company will be in focus today as its board will consider additional fund raising option on July 2.

J K Cement: J K Cement will make Jaykaycem (Central) its wholly-owned subsidiary.

Yes Bank: Yes Bank plans to raise $1 billion through American Depository Receipts (ADR) during next financial year.

8:15 a.m.: The foreign institutional investors (FIIs) sold shares worth Rs 203.7 crore on Friday while the domestic institutional investors purchased shares worth Rs 234 crore.

7:55 a.m.: Selling pressure was visible in other Asian markets as well. The Hang Seng fell 1.65 per cent and the Nikkei fell 1.8 per cent.

7:45 a.m.: The Indian markets are likely to witness a gap down opening in trades today tracking economic developments in Greece. Fears that Greece may exit from the European Union loomed large as the European Central Bank and its creditors in Europe shut the door on extending a credit lifeline to Athens.

Reacting to this development, the Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty plunged 1.3 per cent or 110 points to 8,265.

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