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Fear of Greece’s likely default spreading to other countries in the European Union (such as Italy, Portugal and Spain) created panic among investors worldwide and kept the Nifty and the Sensex in the red on Monday.
The Nifty recovered from its intra-day low of 8196 to close 63 points down at 8318 (down 0.75 per cent) while the Sensex also recovered from its intra-day low of 27209 to close at 27645, down 167 points (0.6 per cent).
Christine Lagarde, Managing Director, International Monetary Fund (IMF), said in a statement: “I have briefed the IMF Executive Board on the inconclusive outcome of recent discussions on Greece in Brussels. I shared my disappointment and underscored our commitment to continue to engage with the Greek authorities. The IMF also will continue to carefully monitor developments in Greece and other countries in the vicinity and stands ready to provide assistance as needed.”
Foreign portfolio investors offloaded net equities worth ₹712 crore while DIIs bought net equities worth ₹906 crore. Retail investors on the BSE also sold net equities worth ₹20 crore.
Barring FMCG, all sectoral indices closed in the red. Volatility was high and the volatility index India Vix closed 9.76 per cent up at 17.2975.
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