North Korean shelling sends markets into tizzy

N Korean Shelling Sends Markets Into A Tizzy; Indian Equities Close Off Day's Lows

Dalal Street today not only witnessed a mere ‘negative’ trade, but also experienced a major meltdown along with global markets. However, it soon showed a decent recovery. The Bombay Stock Exchange’s Sensex ended the day at 19,691, down 265 points or 1.3% from the previous close. National Stock Exchange’s Nifty shut shop at 5934 lower by 75 points or 1.25%.

Weak global cues prevailed since morning today, but it was after the news on North Korea shelling a South Korean island, that chaos made an entry. Initially, markets of the region – Kospi and Hang Seng – lost over 1.5%. The fear of war spread like fire among other markets (Asia & Europe), which fell significantly too.

Indian equities also experienced the heat and Sensex plunged to the day’s low at 19,342. Nifty too fell as low as 5824. Sensex gyrated over 600 points, while the Nifty moved in a range of 150 points in trade today. However, buying came in at lower levels and the market saw a decent recovery from the lows, but continued to trade in red