Market expert Akash Jindal on Wednesday said that the Greek debt crisis has led the Sensex to slip by 700 points, adding that a further increase in the crisis could impact the world economy negatively.
"There are four main reasons [for the sensex to drop]. Globally, the Greece debt crisis has impacted... Crude oil prices have been high today. Thirdly in India, some of the corporates have not delivered good results," Jindal told ANI.
"The fourth reason is that some of the banks and lenders in India have come out with higher than expected NPAs (non-paying advances). These could be the main reasons why the sensex is down," he added.
The expert also said that if the Greek debt crisis increases then the entire world economy would be impacted negatively.
The Sensex fell by 723 points - its second biggest single day fall since the Prime Minister Narendra Modi-led government took over.
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