Among sectors, except IT and pharma all other indices are trading lower.

Abhimanyu Sofat, Head of Research, IIFL Securities:

Trump strikes on General Qassem Soleimani of Iran is a big escalation in middle east conflict from last decade. General is among the top three leader from military perspective. His influence stretched from Yemen, Syria, Iraq. Expect crude to boil if Iran retaliates.

Ajay Bodke (CEO PMS Prabhudas Lilladher: The news of US strike killing Qesem Soleimani the head of the Iranian Revolutionary Corps or Quds Force is very significant as he was extremely close to the Iranian Supreme Leader. Iran will certainly retaliate. It could strike either directly or through its numerous proxies in the region in countries like Iraq, Yemen, Syria, Lebanon etc with an intention to cause massive damage to the US and its allies in the Gulf like Saudi Arabia, UAE, Kuwait. It is likely to aim at causing massive disruption of supply routes through Persian Gulf or strike at key oil installations besides striking US military and or civil interests in the Gulf and beyond.

Oil is likely to be on boil. Bad for large oil importing countries espcially those with large trade and current account deficit like India. Indian equities better take note. Risk aversion would spike sharply. Investors may again find comfort in mega-caps and shun ‘risky’ small and midcap equities. Globally risk assets to be pummeled. Safe havens like gold, Swiss Frank, Japanese yen likely to rise. Emerging Market currencies likely to be under pressure.

Indian bond yields need to be watched as any FII outflows due to rising risk aversion may spark a sell-off there leading to rise in bond yields.

January 03, 2020 10:32 AM IST
Buzzing Stock: FDC share price touched 52-week high of Rs 222, rising more than 5 percent intraday on January 3 after company received GMP certificate from UK MHRA. The company has received GMP certificate and it continues with its approved status from UK MHRA (Medicines and Healthcare Products Regulatory Agency), for two of its oral solid dosage form facilities situated at L-56/57 and L-121 in Verna, Goa.

January 03, 2020 10:18 AM IST
Buzzing: Share price of Gujarat Narmada Valley Fertilizers & Chemicals was down over 2 percent on January 3 after the Department of Telecommunications slapped a Rs 15,019-crore demand notice on the company.

January 03, 2020 10:14 AM IST
State Bank of India has invited bids for sale of upto 50 lakh shares of NSE. The last date for submitting bids is January 15. The minimum bid for sale of NSE shares should be 10 lakh shares, reported CNBC-TV18.

source: moneycontrol.com