Indian markets, which were languishing under the shadow of weakness in Asian markets, have dealt another blow following reports of firing at the Korean border.
Intensified selling, saw the Sensex tumble around 600 points. However, the index is now down 468 points at 19,469.
According to reports, North Korea today fired dozens of artillery shells at a South Korean island, setting buildings on fire and prompting a return fire by the South, Seoul's military and media reports said.
South Korea mIlitary said that it is on highest non-wartime alert. TV reports suggest, the Korean Won dropping as much as 4% versus the dollar following the exchange of firing.
Among the Nifty 50 stocks - SBI has plunged over 5% to Rs 2,876. IDFC and SAIL have also tanked nearly 5% each to Rs 184 and Rs 180, respectively.
Hindalco, Bharti Airtel and Suzlon are the other major losers, down around 4.5% each.
ICICI Bank, DLF, Cipla, Reliance Capital, JP Associates, Sterlite, Tata Power, Tata Motors, ONGC, ITC, Tata Steel, Reliance, Axis Bank, Jindal Steel and HDFC Bank are down 3-4% each.
The Bank Nifty has cracked 4% at 11,896. The CNXIT has shed 1.6% at 6561.
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