Stock markets fall further on Greek woes

The stock markets extended losses on Monday as Greece looked set to default on its debt repayment this week, sparking concerns about foreign selling in emerging markets. In the morning session, markets fell more than 2 percent before recovering some losses. Greece will keep its banks closed on Monday and implement capital controls after international creditors refused to extend the country's bailout. Market experts Sunil Shah and Akash Jindal warned of more losses if the Greece crisis was not resolved soon. Shares in Indian companies with exposure or units in Europe were among the top losers on the BSE.