BSE Sensex and NSE Nifty are expected to be seen in a guarded mood on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action.

Indian IT shares may fall; Gartner says IT spend to decline
* Software exporters such as Tata Consultancy Services  and Infosys may extend falls
* Gartner says worldwide IT spending to decline 5.5 pct in 2015

Indian airlines may rise after InterGlobe files for IPO
* Aviation shares may rise after owner of India’s biggest airline files for IPO and on jet fuel price cut
* Jet Airways (India) and SpiceJet on radar
* Relative valuations of listed airlines look attractive – dealers

While an unwelcome milestone for Athens, it came as no surprise to investors after weeks of stop-start talks and the euro only faded a little to $1.1136.

On Tuesday, BSE Sensex recovered 136 points to settle at 27,780.83 on fresh buying in FMCG, healthcare, consumer durables and metal sector stocks amidst higher Asian cues.

World Markets:

NEW YORK:

US stocks finished up after a choppy trading day as investors held out hope on Tuesday for deal to keep Greece in the euro even as it veered close to a potential debt default.

Greece, hours from missing a 1.6 billion euro ($1.8 billion) payment due to the International Monetary Fund, submitted a new aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens to resolve its impasse with lenders.

LONDON:
Britain’s top equity index hit its lowest level since mid-January on Tuesday, pulled down by miners and supermarkets and underperforming even euro zone shares despite Greece being hours away from a repayment default.

While new data showed Britain’s economy enjoyed a stronger start to the year than previously thought, buoyed by big-spending consumers and an upturn in business investment, weak exports continued to drag on growth.

TOKYO:
Japanese shares edged up on Wednesday as a central bank survey showed big businesses plan to increase capital spending at the fastest pace in a decade, but gains were limited as investors remained cautious on developments in Greece.

Confidence at big Japanese manufacturers unexpectedly improved in the second quarter and is seen rising further, the Bank of Japan survey showed, offering some relief to policy-makers keen to jump-start an economy which had been appearing to back slide again

HONG KONG:
Hang Seng Index up 1.1 percent.