On Wednesday an 8.7 magnitude earthquake struck right off the waters of Indonesia. The huge quake could be felt in Singapore, Thailand and India. The latest earthquake has set fears of a Tsunami in residents.

According to authorities, there have been no casualties or damage reported, and there is not believed to be a major threat. Reuters reported that the earthquake hit at 0838 GMT. A tsunami watch was put in effect for the entire Indian Ocean following the quake. So far, there is no tsunami threat, said Indonesia President Susilo Bambang Yudhoyono on television.

A red high-level warning was put into effect for the islands by the Indian National Centre for Ocean Information Service. The Aceh province in Indonesia lost power following the quake, and warning sirens have residents fleeing to high ground, reports the Hindustan Times.

Waves up to 6 metres are expected to hit along India's eastern coast, with smaller waves hitting the Andaman and Nicobar islands. It doesn't look like a major tsunami, Victor Sardina, geophysicist at a Hawaii-based institute told Reuters, but we are still monitoring as tsunamis come in waves.

A disaster relief team was sent to Aceh by President Yudhoyono. In 2004, a 9.1 magnitude earthquake struck Indonesia, setting off a tsunami. Over 226,000 people in Sri Lanka, Thailand, Indonesia, India and nine other countries were killed, reports CNBC. When the quake hit in 2004 Aceh has been devastated, with about three quarters of casualties coming from that area.

People residing along coast lines are encouraged to evacuate to safer places.