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Key benchmark indices endured a volatile session and ended with small losses on Wednesday. The sentiment was negative after Iran fired more than a dozen missiles at two US military targets inside Iraq in response to the United States’ killing of senior Iranian military commander Qassem Soleimani last week. The National Statistical Office on Tuesday forecast India’s GDP growth to be 5% in 2019-20, slower than the previous year’s 6.8% and in line with the RBI estimate.

Global Markets

Shares of Saudi Aramco opened at 34 riyals, their lowest level since the oil giant began trading on December 11, after Iran launched missiles on U.S. targets in Iraq. European shares dropped after an Iranian missile strike on U.S. forces in Iraq prompted moves out of risk assets, while signs of a sustained manufacturing slump in Germany spelt further gloom for the region. European STOXX 600 equity index was down 0.4%.

Stock Snippets

Shares of Adani Enterprises slipped over 2% after the media reports said that the Supreme Court has set aside Bombay High Court’s order giving relief to the firm in the coal import case. Shares of Goa Carbon were locked in 5% upper circuit after the company reported operational performance for the month of December 2019. Ramco Systems informed the exchanges that the company has secured a multi-million-dollar Global Payroll and Workforce Management (WFM) deal from a leading Australian University. Tata Steel on Tuesday post-market hours said that it’s subsidiary T S Alloys Ltd has won a licence for a chromite ore mine in Odisha for 50 years. The Government of Odisha had undertaken an auction process for the grant of mining lease for the Saruabil Chromite mining block. Trade Unions at Bosch’s plants situated at Bidadi and Naganathapura in Karnataka and Jaipur in Rajasthan are participating in the All India General Strike called by Central Trade Union on January 8

Global Markets

 Asian markets fell in morning trade on Wednesday amid news that Iran fired a series of rockets at two U.S.-Iraqi airbases. The move was Iran’s first response to the killing of General Qassem Soleimani by a U.S. airstrike last week. It was not clear if there were any casualties or major damage from the attacks. Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 fell 1.57% to hit a new 1-month low. Australia stocks were lower after the close on Wednesday, as losses in the IT, Consumer Discretionary and Financials sectors led shares lower. The S&P/ASX 200 fell 0.13%.

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