Greeks are split on whether to accept an offer by creditors that Prime Minister Alexis Tsipras calls a "humiliation"
Greek proposals hailed as "a positive step forward".
The Reserve Bank and the government has contingency plans to deal with the situation if Greece exits the Eurozone, RBI Deputy Governor K C Chakrabarty said on Friday.
The rupee appreciated by 0.27 per cent in June against the dollar.
The proposals appeared so far apart that success seemed higly unlikely
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
The European Commission urged Greece to stick to commitments it has made to reform its economy as Prime Minister Alexis Tsipras called a snap election within hours of new EU bailout cash arriving in Athens.
Analysts agree China, Greece and US Fed developments need careful monitoring but India should gain, over time, from relative rise of the dollar and fall in commodity prices.
Most Asian markets ended with gains.
Earlier companies were going bankrupt, now countries are turning belly up.
An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.
Capital Goods shares ended mixed on the back of weak IIP numbers. L&T ended down 0.7% while BHEL ended with marginal gains.
The recovery was led by pharma majors led by Dr Reddy's Labs.
A year ago, Greece's bankers thought they were on the cusp of a new era.
Over the past week, the Sensex and the Nifty continued the bull-run
The falls meant that both crude futures were at their lowest levels since mid-April
Formal negotiations are due to start in Athens on Friday.
Euro zone leaders clinched a deal with Greece on Monday.
IMAGES from Day 5 of the Wimbledon Championships, at the All England Lawn Tennis and Croquet Club, London, on Friday.
France showcased its cultural diversity, spirit of revolution, impeccable craftsmanship, and architectural heritage in a riveting opening ceremony for the 33rd Olympic Games.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland's central bank showed on Thursday.
Shanghai's benchmark share index plunged below 4,000 points for the first time since April
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
The rupee may also gain against the euro but be prepared for a snapback in the euro as Greece resolves.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
Progress of monsoon, investment trend by foreign investors and the movement of rupee against the dollar will also influence sentiment
A second vote will be held on Wednesday, on measures including justice and banking reforms, when a similar outcome is expected.
'The cost of funds has come down, which will lower lending rates'.
The FTSE 100 is up by about 2 per cent since the start of 2015, although the index is down 6 per cent from a record high of 7,122.74 points reached in April.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
The Narcotics Control Bureau on Tuesday claimed to have busted the "biggest" darknet-based LSD cartel operating in India with the seizure of more than 13,000 blots and Rs 26 lakh in cash and the arrest of three persons.
ICICI Bank on Monday said it sees no impact of the Greek debt crisis on the bank as it has no exposure to Europe.
A rising number of Greeks in rural areas are swapping goods and services in cashless transactions.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
In all, 37 central banks around the world have eased monetary policy so far this year to boost growth, fight deflation or both
The accounts were hacked during April and May, police said, adding that the Axis Bank had contacted Mumbai police and informed that they had set up a committee to probe the matter.
The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world.
Movement of rupee and crude oil prices will also dictate the trend
The Nasdaq Composite hit a high of 5,143.316.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
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