Debt crisis: Greece closes banks; Sensex, global markets crash

Greece announced on Monday it will shut banks for a week and impose capital controls, pleading for calm after anxious citizens emptied ATM machines in a dramatic escalation of the country's debt crisis Astrology market books

India’s benchmark BSE Sensex plunged 535.87 points, or 1.92%, to 27,275.97 in opening trade on Monday and Asian stock markets sank as Greece looked set to default on its debt repayment. Astrology & Numerology books

The benchmark 10-year bond yield was up 3 basis points at 7.85%, while the rupee was trading at 63.90 compared to its 63.64/65 close on Friday Commodity Trading Tips

In the first market reaction to the growing risk of a Greek euro exit, the single currency tumbled in Asia on Monday morning. Stock markets fell sharply, with Tokyo, Sydney, Shanghai and Hong Kong each sinking more than 2% by Monday afternoon. Nifty Trading Tips

Greece’s banks will be closed until July 6 – the day after a referendum on bailout proposals – with a 60-euro ($65) limit on ATM withdrawals, but foreign tourists, a vital engine of the Greek economy, will be exempt from restrictions, said a decree in the official government gazette.

The drastic measures to protect Greece's banking system against the threat of mass panic came after the European Central Bank said it would not increase its financial support to Greek lenders, despite early signs of a chaotic bank run. Financial Astrology Trading Tips

It capped a weekend of high drama that began with Prime Minister Alexis Tsipras's unexpected call for a July 5 referendum on creditors' latest reform proposals after bailout talks in Brussels collapsed Intraday Trading Tips

"The more calmly we deal with difficulties, the sooner we can overcome them and the milder their consequences will be," a sombre-looking Tsipras said in a televised address. He promised bank deposits would be safe and salaries paid. Free Stock Share Tips

With the prospect of Greece being forced out of the euro in plain sight, the common currency fell as much as 1.9% to $1.0955, its lowest in almost a month, and last stood down 1.4% at $1.1007  Stock Market Trading Tips



Hong Kong's Hang Seng lost 2.7% to 25,949.30 and Sydney's S&P ASX-200 was off 2.3% at 5,418.80. Seoul's Kospi dropped 1.4% to 2,061.00 and the euro slipped to $1.101 from the previous session's $1.116. The dollar declined to 123.15 yen from 123.89 yen.

Gold prices gained 0.6% to $1,181.40 per ounce on safe-haven buying, while Brent crude oil futures fell 1.2% to $62.53 per barrel Jackpot Trading Tips