Greece PM said that European lenders had rejected the country’s reform proposal in exchange of bailout funds
Mumbai : Logging its first fall in nine days, the benchmark BSE Sensex slipped by 75 points to 27,729.67 as market sentiment took a hit in last half hour on news that the creditors have rejected Greece’s new proposal. Profit-booking ahead of today’s futures and options (F&O) June contract expiry also weighed to some extent. After trading in positive zone for most part of the day, the index plunged over 200 from a high of 27,948.24 at the fag-end tracking losses in European stocks.
The country’s Prime Minister Alexis Tsipras met European Central Bank President Mario Draghi, International Monetary Fund Managing Director Christine Lagarde and European Commission President Jean-Claude Juncker to reach a deal before the debt-ridden country’s repayments of about 1.5 bln euros comes due to the IMF on June 30.
“The insistence of certain institutions of not accepting parametric measures has never happened before — not in Ireland, nor in Portugal,” Tsipras wrote in a Twitter post. The ailing economy desperately needs bailout funds to avoid defaulting on loans from International Monetary Fund. In the previous eight sessions, the Sensex had zoomed by 1,433.39 points or 5.4%.
