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Markets End Higher Ahead Of Greece Referendum
Indian benchmark indices ended the day higher ahead of a Greece referendum on Sunday, which would decide on further aid for Greece in exchange for reforms. A "no" vote could push Greece out of the Eurozone and may have an impact on markets across the globe.
Buying was seen in frontline stocks including the likes of HDFC, Bharat Heavy, HDFC Bank and Dr Reddy's Labs. Metal and mining stocks had a weakish session in trade with Tata Steel, Vedanta, Coal India and Hindalco among the losers.
Drugmaker Lupin rose on an acquisition in Russia, while most other pharma companies also ended the day higher. Select IT stocks which have witnessed a subdued trend through most of the week were up with Infosys and TCS seeing buying support. However, Tech Mahindra continued to fall after a weak Q1 guidance.
The mid cap index, however, ended the day lower as heavy selling was seen in Jindal Steel, Bharat Forge and Eicher Motors. However, UBL jumped a huge 8 per cent in trade.
Meanwhile, the Shanghai Composite slumped once again in trade and has now lost 27 per cent in three weeks. Most other Asian markets ended the day lower, while European markets were trading flat.
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