Markets Open in Red After North Korea Fires Another Missile

Nifty IT index was 0.42 per cent up at 10,540, with shares of Infosys, Wipro and Tech Mahindra trading in the green.

Market breadth was negative with 552 advances against 995 declines.

The 50-share NSE Nifty, however, was little changed, ending 1.20 points down – or 0.01 percent – at 10,085.40 after hovering between 10,043.65 and 10,115.15. “The volatility came on the back of return of geopolitical tensions as North Korea launched a missile near east of Japan“, Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

Most other Asian markets closed mixed. There is an expectation that Feds would probably raise the interest rates, which could possibly strengthen the dollar. “Continued FII selling and tightening monetary policies in the U.S. will curtail easy liquidity, which is making investors cautious”, said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

In investments, provisional data with the exchanges showed that FIIs sold scrip worth Rs 8,043.58 crore during September 1-14.

The Indian rupee strengthened by 4-5 paise to 64.07-08 against the United States dollar from its previous close at 64.12.

BSE Sensex dropped by over 68 points in opening trade today, breaking its six-session winning streak due to profit booking in power, metal, consumer durables and healthcare stocks amid weak Asian leads after North Korea launched another missile over Japan”, said Dhruv Desai, Director and Chief Operating Officer of Tradebulls. The Dow’s third consecutive all-time high was driven in part by Boeing, which rose 1.36% after Deutsche Bank raised its price target on the aerospace and defense stock.

The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index were down 0.47 per cent and 0.14 per cent, respectively.

On the other hand, Optiemus Infra, Assam Company, Landmark Prop, Zensar Tech, Sujana Metal, Sri Adhikari, Alembic Pharma, Blue Blends, Stampede Cap and Sintex Plastics Technology were among the 20 stocks that touched their fresh 52-week lows in Friday’s trade so far.

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