Sensex plunges as Greece debt crisis casts its shadow on world markets

The Bombay Stock Exchange (BSE) Sensex plunged over 600 points in the trade today as fears intensified over Greece likely to default on its debt repayment.

This triggered concerns about foreign selling in the emerging markets.

The Sensex, which opened 450 points, was soon trading 600 points down, while the 50-share Nifty index fell below 8,200 levels.

As per reports, the Sensex was at 11 a.m. down nearly 571 points to 27,240, while the Nifty fell to 8,205.

Greece closed its banks for a week and imposed capital controls yesterday to check the growing strains on its crippled fiscal system, bringing the prospect of being forced out of the Euro into plain sight.

Greek banks will remain closed until July 6 and the withdrawals from ATM will be limited to 60 euros a day in the same period.