Sensex sinks 315 points in early trade on Grexit fears

The benchmark BSE Sensex dipped below the 28,000-mark by plummeting over 315 points in early trade on Monday as funds and investors indulged in reducing exposures amid weak cues from other Asian markets as Greek voters have rejected more austerity demands from creditors. 

The 30-share index cracked the 28,000-mark by tumbling 315.21 points, or 1.12%, to 27,777.58. 

The gauge had gained 146.99 points in the previous session on Friday on Reserve Bank Governor Raghuram Rajan's comments that India's exposure to Greece is limited. 

In a similar fashion, the National Stock Exchange index Nifty slipped below the 8,400-mark by falling 98.75 points, or 1.16%, to 8,386.15. 

All the sectoral indices, led by oil & gas, FMCG, healthcare and realty, were trading in the negative zone, falling up to 1.32%. 

Brokers said sentiments on the domestic bourses were adversely affected, triggering selling by participants, largely in tandem with falling trend at other Asian markets after Greek voters rejected more austerity demands from
creditors, fuelling fears that the country will crash out of the Eurozone. 

Besides, the weakening rupee which slipped from two-month high by depreciating 18 paise to trade at 63.62 against the dollar at the Forex market in early trade today, weighed on sentiments, they added. 

Among other Asian markets, Hong Kong's Hang Seng index plunged over 3%, while Japan's Nikkei index was trading 1.58% down in early trade. 

The US Dow Jones Industrial Average ended 0.16% lower in Friday's trade.