Overall, markets are expected to remain volatile. The Nifty has managed to hold on to the 8,350 mark so far. If the outcome in Greece is positive, we could see Nifty touch 8,500 yet again. On the other hand, if the Nifty breaks 8,250, we could see a fall to 8,000 levels again soon.
Anil Khandelwal, CFO Of Cox & Kings said the ATM withdrawal restrictions in Greece did not apply to tourists.
Outcome of Greek referendum, first quarter earnings of IT major TCS, industrial production data and progress of monsoon would guide market, which is expected to remain range-bound this week, say experts.
Equity benchmarks outperformed global peers with the Sensex ending above the 28000 level and the Nifty few points away from 8500 level. However, the broader markets underperformed.
U.S. stocks move higher ahead of jobs report, Greek referendum
Gold continues slide ahead of U.S. jobs report, Greek referendum
Neeraj Deewan of Quantum Securities says the IT sector may do well in the longer run. He says recovery in the US will ensure good demand for the sector, which augurs well for these companies. He is bullish on companies such as Infosys, and advises investors to accumulate on dips.
With the Greek referendum coming into picture and being scrapped within the same week, Philip Poole, the global head of macro and investment strategy at HSBC Global Asset Management expects choppy trade to continue.
Even though Europe is a big overhang, Shane Oliver, head investment strategy and chief economist at AMP Capital Investors expects positive US and China economic data to spark off year end rally.
Bruno Verstrate, chief financial officer of Nautilus Invest joins CNBC-TV18 to discuss the possible outcomes of a Greek referendum and the impact it can have on markets.
With the much awaited G20 meet beginning in a few hours, Richard Harris of Quam Asset Management says that it will only be another brick in the wall.
News of the Greek referendum has reversed flows in financial markets world over. Therefore, the general sentiment in the market is to short commodities, except for the safe haven gold.