Crude oil futures slipped Rs 52 to Rs 3,763 per barrel today, in line with a weak trend in Asian trade, as traders cut down their exposure. Analysts said the fall in crude oil futures is mostly in step with a sluggish trend in Asian trade, tracking the sell-off in global equity markets on fears of a Greek debt default.
Indian stocks are down sharply, in sync with global markets, amid mounting concerns over an imminent Greek debt default and its likely impact on the European and global economies. A lack of positive news from the home front is also prompting investors to exit counters. With stocks across the board caving in on selling pressure, the market breadth is very weak, with losers outscoring gainers by almost 5 to 1 on the Bombay Stock Exchange.