Nifty Back Below 8000 Levels As Greece Debt Worries Weigh

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, June 16, 2015, 9:36 [IST]

Benchmark indices opened the day marginally lower on the back of weak global cues as worries over a possible Greece default of its debt continued to weigh on sentiments.

Weak cues from overseas closings in the US also played on the markets. Banking and financial stocks were lower in trade with ICICI Bank, HDFC, Axis Bank and IndusInd Bank all lower in trade.

Shares in State Bank of India were marginally higher after there were reports of marginal increase in advance tax numbers.

Bharti Airtel was higher after reports that the company would test start 4G services in Delhi. HDFC shares were reported to be under a bit of pressure after reports that its advance tax numbers growth were at 12 per cent.

Reliance Industries saw some profit booking after a good two day rally. Aurobindo Pharma was trading higher after the company received a US FDA approval for one of its products.

FMCG stocks saw some buying interest after reports that the monsoon rains were higher than normal and way ahead of what was predicted by the IMD.

Shares of Hindustan Unilever and Godrej were trading higher. Meanwhile, Asian markets were trading lower for a second successive day on worries over the debt talks in Greece. All eyes would also be on the conclusion of the 2-day US FOMC meet which concludes on Wednesday for hints on when interest rates in the US would rise.
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