The Bombay Stock Exchange benchmark Sensex on Monday shed over 172 points as trading sentiment was overwhelmed by fall in European stocks over worries about the efficacy of a Euro 110 billion package to bail out Greece.
The Sensex, which had gained in the last two trading sessions, fell by 172.63 points to 17,386.08 as major market participants indulged in booking profits at existing higher levels amid weak signals from overseas markets.
The wide-based National Stock Exchange index Nifty fell by 55.25 points to 5,222.75.
While most of the Asian and European markets were closed for local holiday, the Hong Kong, Singapore, Frankfurt, Hungry, Greece, Spain ended lower on Greece debt concerns.
Finance ministers of 16 nations that use the Euro Sunday night sealed a 110 billion Euro bailout package for heavily indebted Greece over three years after that country’s government agreed to a new round of tough austerity measures.
The most heaviest on the Sensex, Reliance Industries, dropped by Rs 8.95 to Rs 1,023.55 and second heaviest, Infosys Technologies, fell by Rs 41.65 to Rs 2,694.50. Both carry nearly 23 per cent weightage on the benchmark.
In the 30 BSE components, 24 stocks closed lower while six ended in positive zone. The stocks in metal, capital goods, realty, power and information technology segment mainly pulled down the market.
With the selling pressure spilling over a wide-front, midcap sector index fell by 0.45 per cent to 7,152.47 and small cap index by 0.42 per cent to 9,168.62.