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Shares of Indian companies with exposure to or units in Europe were among top losers on the BSE.
Greek voters overwhelmingly rejected terms of a rescue package. The ECB may keep keep a tight funding grip on Greek banks after 'no', sources said. Companies that get at least more than a third of their revenues from Europe fell.
Tata Steel (-1.9%), Motherson Sumi Systems (-2.6%), Havells India (-0.19%), Bharat Forge (-1.97%) and Cox & Kings (-2.2%) were among the major losers. Some traders are worried that Greece default may lead to working capital constraints and demand slowdown.
Fund managers said that the fall in stock prices were temporary as Greece was almost discounted.
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