Markets Open in Red After North Korea Fires Another Missile

Markets Open in Red After North Korea Fires Another Missile”

Overseas, most Asian stocks edged lower after North Korea launched a missile in the direction of the east. The launch was the latest sign of Pyongyang's willingness to defy global opinion as it moves closer to building up a military arsenal targeting USA forces, Associated Press reported.

Indian shares fell on Friday, tracking Asian markets lower, as geopolitical tensions following another missile launch by North Korea dampened sentiment and as profit taking was seen in recent outperformers such as banks and pharma stocks. The major gainers of BSE Sensex were ONGC, Coal India, Adani Ports and M&M while the major losers in Sensex during early morning trade were PowerGrid, SunPharma, Kotak Bank and Axis Bank.

Equity benchmarks Nifty50 and Sensex remained boring as losses in pharma, oil & gas and metal stocks weighed on amid lingering worries over North Korea.

Benchmark Nifty was hovering around 10,050-mark, while Sensex traded below 32,200 level. The stocks which are going to witness ex-dividend on Friday's trading session viz. Anuh Pharma Ltd, Divi's Laboratories Ltd, Kilburn Engineering and Vidhi Specialty Food Ingredients etc. Shares of Nesco Ltd. are going to witness stock split in the ratio of 10:2 during Friday's session. Domestic institutional investors (DIIs) bought shares worth a net Rs 793.31 crore, as per provisional data. Nomura, Abu Dhabi Investment Authority, Kuwait Investment, Goldman Sachs, Reliance Nippon, DSP BlackRock and Franklin Templeton are among the anchor investors.

The US Dow Jones ended 0.20 per cent higher yesterday. The Nasdaq Composite dropped 0.48% to 6,429.08 points, hurt by a 0.86% decline in Apple.

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