Indian stock markets closed lower on Wednesday in a dull and rangebound trading activity as investors remain cautious after the North Korea fired its powerful missile. The sentiments were also muted ahead of Q2 GDP data and F&O expiry due on 30 November. BSE Sensex shed 15.83 points or 0.05% to end at 33,602.76 whereas NSE Nifty shaved off 8.95 points or 0.09% to settle at 10,361.3. A colourless trade was also witnessed among the Asian markets excepting Japanese equity benchmark Nikkei. During the day, the benchmark Sensex made traded between a range of 33,728.81 and 33,553.12. The profit booking in the shares of HDFC, Axis Bank, State Bank of India and Tata Consultancy Services led the 30-share barometer to lose about 90 points while an uptick in HDFC Bank, ITC, ICICI Bank and Reliance Industries helped to trim the losses.
Shares of Wipro jumped 1.33% to end at Rs 297.7 as India’s third-largest company started its Rs 11,000 crore buyback. Adani Ports, Sun Pharma, HUL, Tata Steel, Bajaj Auto gained up to 1.16% while Axis Bank, HDFC, SBI, Asian Paints, TCS, Kotak Mahindra Bank lost up to 2.3%. Meanwhile, Japan’s Nikkei 225 index gained 0.5% to 22,597.2, South Korea’s Kospi edged 0.1 percent lower to 2,512.9, Hong Kong’s Hang Seng fell 0.2% to 29,623.83 while Shanghai Composite index rebounded from early losses to gain 0.1% at 3,337.86.
Earlier today morning, stock markets in India along with China, Japan, Hong Kong and even South Korea came under pressure as investors feared the latest missile launch by North Korea which the nation also claiming to be most powerful so far. About after 2 months of silence and peace, North Korea launched a much powerful missile. “The nuclear-armed North test-fired Wednesday morning a missile that could bring the entire continental United States within range, according to the South Korean and US governments,” AFP reported.
“The missile was launched from Sain Ni, North Korea, and travelled about 1000 km before splashing down in the Sea of Japan, within Japan’s Economic Exclusion Zone (EEZ),” Associated Press reported.
Earlier yesterday, US markets spiked to fresh record highs on Tuesday following the gains in bank stocks and boosted by progress for a tax cut bill, strong consumer confidence data and encouraging comments from — President Donald Trump’s nominee — Jerome Powell who is selected to lead the US Federal Reserve. The Dow Jones Industrial Average rose 255.93 points or 1.09% to 23,836.71, the S&P 500 gained 25.63 points or 0.99% to 2,627.05 and the Nasdaq Composite added 33.84 points or 0.49% to 6,912.36.