After flat start; Sensex slips into red

Coal India, Bajaj Auto, Wipro, TCS and Maruti are among the gainers, whereas Tata Motors, Cipla, BHEL, HUL, ICICI Bank are losing sheen on BSE. 

At 9:23 AM, the S&P BSE Sensex is trading at 26,676 down 92 points, while NSE Nifty is trading at 8,089 down 25 points.

The BSE Mid-cap Index and BSE Small-cap Index was flat.

Coal India, Bajaj Auto, Wipro, TCS and Maruti are among the gainers, whereas Tata Motors, Cipla, BHEL, HUL, ICICI Bank are losing sheen on BSE.

Asian markets are mixed with Japan's Nikkei and Hong Kong's Hang Seng index in the red. China's Shanghai index was, however, higher. On Wall Street, Dow Jones  fell 0.31%,  

S&P dropped 0.14% and Nasdaq gained 0.18%. PSU banks will be in focus as the Finance Minister Arun Jaitley will meet the heads of public sector banks later this week to review the banks' annual performance and bad loans situation as also to persuade them to pass on RBI's rate cut benefit to borrowers for propping growth, says a report.

The developments in Greece will play out in markets world over with European Commission president, Jean-Claude Juncker saying Greek Prime Minister Alexis Tsipras has failed to deliver alternative economic reforms that he had "promised. He further urged Tsipras to arrive at some alternative proposals "swiftly" to enable negotiations to continue this week. 

The release of Chinese trade balance data for the month of May 2015 and Germany's industrial production data for the month of April 2015 on June 8, 2015 are among macro points global investors will watch out for this week. Greece was due to repay 303.3 million euros to the International Monetary Fund on June 5, 2015. But Athens notified the IMF that it plans to bundle all its June loan repayments into one payment of around euro 1.6 billion due by the end of the month.