Asian shares on defensive after selloff on North Korea fears
Chennai, Sept 5:
The benchmark BSE Sensex was trading higher by nearly 100 points in the late morning trade led by consumer durables, realty and oil & gas stocks amid a subdued trend in the Asian markets.
Asian shares were on the defensive on worries about North Korea but expectations that Beijing will maintain support for its economy ahead of a key congress supported Chinese stocks and copper prices.
At 10.40 a.m., the 30-share BSE index Sensex was up 91.2 points or 0.29 per cent at 31,793.45 and the 50-share NSE index Nifty was up 25.95 points or 0.26 per cent at 9,938.80.
Among BSE sectoral indices, consumer durables index gained the most by 1.17 per cent, followed by realty 0.84 per cent, oil & gas 0.69 per cent and power 0.48 per cent. Only TECk index was down 0.13 per cent.
Top five Sensex gainers were Bajaj Auto (+1.6%), Asian Paints (+1.45%), Reliance (+1.27%), Tata Steel (+1.05%) and Dr Reddy’s (+0.79%), while the major losers were Bharti Airtel (-1.82%), M&M (-0.64%), Lupin (-0.44%), Sun Pharma (-0.43%) and Infosys (-0.38%).
MSCI’s dollar-denominated index of Asia-Pacific shares outside Japan was up 0.1 percent thanks to gains in Chinese shares, though many markets were in the red.
Japan’s Nikkei fell 0.5 percent while S&P500 mini futures maintained losses incurred on Monday following Pyongyang’s nuclear test at the weekend. They last stood at 2,466, 0.3 percent below their close on Friday.
US cash equity markets were closed on Monday for a holiday.
(This article was published on September 5, 2017)
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