Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.

TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.

The benchmark BSE Sensex cracked the 28,000-mark by tumbling 500 points today on across-the-board selling by participants, tracking more heavy losses in Shanghai and on fears about Greece’s future in the Eurozone.

At 11:56 am, BSE Sensex trades 485.89 points down to 27,685.80. NSE Nifty sinks 143.00 points down at 8,367.80.

The benchmark Sensex rose over 150 points to trade above the 28,000 mark in mid-session trade today as value-based buying in consumer durables, healthcare, power, capital goods and auto sectors took the recovery forward.

With this, the index brushed off losses in other Asian markets ahead of the Greece referendum.

Shares of Bajaj Auto have moved higher by 2.4% to Rs 2,586 on the National Stock Exchange (NSE) after the company sold 331,317 units in June 2015, representing a year-on-year (yoy) growth of 8%, the highest in past nine months.

The automaker had sold 305,465 units in June 2014. It had sold 345,438 units in the last month May, 2015.

Benchmark index, Sensex is heading toward the highest fall in a span of four weeks as the fear of Greece default spooked investors amid loss in the Chinese stocks despite a decision by the central bank to cut interest rates to a record low.

Weakness in the rupee owing to persistent demand for the American currency from importers has further dampened the sentiments. The rupee is currently trading at 63.86 against the US dollar.

Both the indices, BSE Sensex and NSE Nifty, surged further by 496 points and 156 points, respectively, on persistent buying from investors on hopes of rate cut from Reserve Bank of India (RBI) in view of above-average monsoon rains.

India Meteorological Department (IMD) said in its daily monsoon update showed that the southwest monsoon has been further advanced into remaining parts of north Arabian Sea. For the country as a whole, the cumulative rainfall during this year’s monsoon season was 24 per cent above the Long Period Average (LPA) until June 24.

The BSE Sensex continued to trade in the negative terrain and was down over 70 points at 10.28 am on fresh selling by participants as July series in the derivatives segment began on a subdued note amid weak Asian cues.

At 10.28 am, BSE Sensex was down 78.81 points at 27,817.16. Similarly, Nifty was down 16.60 points at 8,381.40 during the same time.

Continuing its upward journey for the ninth consecutive day, the benchmark BSE Sensex gained over 72 points and the NSE Nifty inched towards regaining 8,400-mark in early trade today as investors indulged in enlarging positions driven by positive domestic as well global cues.

Nifty reclaimed its 8,400 mark around 9.52 am.

Country's top stock exchange NSE will introduce an overnight liquid transaction facility on its web-based Mutual Fund platform, from June 22.

The facility will enable traders, especially small investors, to invest even for a single night in liquid funds.

With the US Federal Open Market Committee (FOMC) dovish announcements behind us, the markets will now exclusively focus on the developments in the Eurozone with respect to Greece. We are only ten days away from the June 30th deadline by which Greece has to pay back the IMF more than a billion dollars. Without a new bailout package, that would be impossible and the Greeks stand on the verge of a default.

Surprisingly, the market has not priced in the likely hood of a Grexit with the Euro holding up above 1.13 against the US Dollar and European bond yields have not been bid strongly either. Perhaps there is a strong belief among market participants that we may see positive news flow after the talks start with an emergency summit on Monday evening.

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