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Saturday, 18 November 2017

Week end Watch of Stock: Stocks build on Moody's India upgrade

11:59:00 Posted by Moneymaker Research 1 comment
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Indian Stock markets cheered wit Moody’s upgraded India’s rating from Baa3 to Baa2 and changed the outlook from the positive to stable. In the weekend, the BSE Sensex closed at 33,342 up by 235 points, whereas NSE Nifty ended trade at 10,283 up by 68 points.

The selling pressure pulled the Sensex to its lowest closing streak in more than 3-weeks and the Nifty to its lowest closing level in 5-weeks on Wednesday, 15 Nov 2017. The market recovered due to bargain hunting in the last 2 trading sessions.

For the week, the Sensex spiraled 28.24 points, or 0.08%, while the Nifty shed 38.15 points, or 0.36%.

Sentiment got a huge pick-up after the U.S based Moody's has up-graded India's sovereign credit rating by a mark to 'Baa2' with a secure outlook showing improved growth prospects driven by economic & institutional development.

The ratings upgrade arrives just weeks after the World Bank elevated India up 30 places in its annual Ease of doing biz rankings.


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