Markets Trade Lower On Possible N. Korea Nuclear test

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, September 9, 2016, 9:34 [IST]

Benchmark indices were trading lower, on reports of an explosion in North Korea, which experts believe could be a nuclear test.

There was an earthquake kind of explosion in the country, which many beleve could be its 5th nuclear test.

This led to a sharp decline in markets across Asia, particularly South Korea and Japan. The Sensex was trading lower by 107 points, below the 29,000 points levels, while the Nifty droppped 36 points in trade.

Yes Bank, was the biggest loser in trade, after the completion of its Qualified Institutional Placement. The stock was down more than 4 per cent in trade.

Shares in Crompton Greaves rallied 3 per cent, after the Reserve Bank of India allowed Foreign Portfolio Investors to buy additional shares in the company.

IT stocks, which saw major fall on Thursday, after TCS reported that there could be a drop in Q2 revenues, were trading marginally higher.

TCS itself recovered after a 5 per cent fall of Friday and was trading with 1 per cent gains. Other notable gainers were Infosys and Wipro.

Meanwhile Asian markets were seeing sharp declines with the Korean Kospi losing as much as 1 per cent in trade.

The rupee was last seen trading at 66.57 to the US dollar.

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