market shrugs off Greece worries on expiry day

Web India-Sensex today snubbed the Greece concerns and closed with a gain as capital goods and index heavyweights led the winning rally.

The 30-share BSE Sensex gained 166.30 points at 27895.97, while broader based 50-share NSE Nifty closed at 8398 up 37.15 points Events related to Greece loan crisis did not have much impact on Indian equities.

On the global front, in a fresh round of talks to resolve debt woes, Greece and its creditors failed to reach agreement again, ahead of Eurogroup meet. Greek government official said Greece is insisting on tax breaks for islands.

Asian markets ended lower with the Chinas Shanghai falling 3.5 percent and Hang Seng & Nikkei losing 0.5-1 percent.

Back home, the Prime Minister Narendra Modi today launched the NDA government’s flagship Pradhan Mantri Awas Yojana (PMAY) housing scheme, along with its long-planned Smart Cities mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) urban renewal initiative.

As part of the three missions, the government will look to create 2 crore houses by 2022 by providing a central grant of Rs 1 lakh to Rs 2.3 lakh per house by way of a 6.5 percent interest subvention scheme.

Larsen & Toubro (up 3.3 percent), HDFC (up 2.2 percent), HDFC Bank (up 2 percent) and Reliance Industries (up 1.4 percent) were the biggest contributors to Sensexs gains. Bajaj Auto was the biggest gainer on Sensex, up 4.7 percent followed by GAIL and Vedanta with 3.4 percent and 2 percent rally.

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