The S&P BSE Sensex plunged over 600 points in trade today as fears intensified over Greece likely defaulting on its debt, triggering a selling pressure across Asian markets.
The 50-share Nifty index tumbled below its crucial psychological support of 8,200.
The key volatility index, India (VIX), surged to 17.6 per cent.
China’s Shanghai Composite cracked 7 per cent. It fell below 4,000-level in trade. Japan’s Nikkei fell 596.20 points to settle day at 20,109.95. Hong Kong’s Hang Seng dived over 900 points.

A likely Greek default could open doors for much-debated exit of the nation from the euro zone. Forex markets were volatile with, rupee tumbling over 30 paise against dollar; crude oil prices cooled off globally.

The 10-year bond yield rose 8 basis points, touching a two-week high of 7.9 per cent. Greece said it would bring capital controls and keep its banks closed on Monday after international creditors refused to extend the country’s bailout.

Prime Minister Alexis Tsipras’s decision to hold a referendum on July 5 on whether Greece should accept the proposal put forward by the official creditors is a negative event from a market perspective, say brokerages.

Source: http://economictimes.indiatimes.com/markets/stocks/news/indian-markets-crack-on-greece-woes-sensex-down-over-600-points-nifty-below-8200-bank-nifty-slips-500-points/articleshow/47859367.cms

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