<div><em>Greece crisis may have negative impact on banking sector, writes <strong>Paramita Chatterjee</strong></em><br><br>The Greece crisis is unlikely to have a major negative impact on the Indian bourses, even as sentiments across the world remained weak because of continued concerns about a possible debt default by the nation. </div><div> </div><div>“In a macro-economic level, the unfolding events in Greece will not have a substantial influence on India as our exposure to the Euro is negligible,” said Tarun Sisodia, Director & Head of Research, Anand Rathi Financial Services. On the earnings based on euro, there may be a short-term volatility, he added. Currently, about 25 per cent of the aggregate forex held by all central banks is Euro denominated.</div><div> </div><div>Indian shares rose on Tuesday with the Sensex closing at 27,780.83, up 135.68 or 0.49 per cent. On the other hand, the broader Nifty rose 0.6 per cent. </div><div> </div><div>The bailout programme for Greece is ending today and it seems unlikely that the country will repay a 1.6 billion euro ($1.8 billion) to the International Monetary Fund. This is definitely looming large on the world markets, including India.</div><div> </div><div>In terms of an impact on the industry, the banking sector will stand affected. Banks are most sensitive to any macro issues and the ones which have taken exposure to the Greece will have to take a hit. Finally, from the corporate point of view, certain stocks in IT, pharma and auto anciliaries that have significant exposure to Euro will underperform the market. However, their performances alone are also unlikely to bring down the market.</div>
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