Indian shares slid on Monday in line with most other Asian markets after the Greek government approved a draft budget with a higher deficit, compared to the one earlier agreed upon, sparking fears that the bailout package being
considered will not be sufficient enough to prevent a potential default. On the domestic side, investor sentiment was further dented on worries of higher borrowing by the government this financial year, forcing investors to flee riskier assets, which firmed up the demand for gold and silver.
“Investors are sceptical at this point of time, pulling out money from riskier assets and inve-sting in safer assets,” said Mr Deven Choksey, MD, KR Choksey Securities.