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The benchmark indices ended in the green after opening on a weaker note. Clarification from the Infosys management in reference to the whistleblower controversy provided the necessary boost to the markets. On macro front, Fitch Solutions has raised India’s fiscal deficit forecast to 3.6% of the GDP for this fiscal year, from 3.4% previously, due to weak revenue collections resulting from sluggish economic growth and government’s sweeping corporate tax rate cut.

Global Markets

SoftBank reported its first quarterly loss in 14 years on Wednesday, whiplashed by an $8.9 billion hit at its giant Vision Fund. European shares took a breather on Wednesday after closing at a four-year peak in the previous session, as a mixed bag of earnings reports and weak services sector data from the euro zone weighed on sentiment.European STOXX 600 index struggled for direction after rising about 0.1% in early trading

Stock Snippets

SPARC enters into a licensing deal with China Medical System Holding

Wipro launches the Wipro RAPIDS DXP solution suite

Hero MotoCorp board approved investing upto Rs 450 crore in Hero FinCorp via private placement

Sun Pharma and AstraZeneca enter into License Agreement for Novel Oncology products in China

CG Power Indonesia bags additional IDR 334 billion (USD 24 million) order from Indonesian state utility PT PLN Indonesia (Persero) for Power Transformers

Aurobindo Pharma said that the U.S. Food and Drug Administration (FDA) issued Form 483 to the company with four observations after inspecting its Hyderabad facilities in October 2019.

Maruti Suzuki and Toyota Tsusho Group announced setting up one-of-its-kind vehicle dismantling and recycling joint venture, Maruti Suzuki Toyotsu India (MSTI).

Global Markets

Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.The Nikkei 225 rose 0.22% to hit a new 52-week high.

Australia stocks were lower after the close on Wednesday, as losses in the Gold, IT and Industrials sectors led shares lower.The S&P/ASX 200 fell 0.55%.

China’s Shanghai Composite and the Shenzhen Component slipped 0.1% and 0.3% respectively. Hong Kong’s Hang Seng Index edged up 0.1%.

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