Stock market investors cheered India’s global rating agency Moody’s upgrading India’s sovereign rating by one notch to Baa2. The benchmark index BSE Sensex rise by 271.65 points on Friday with both foreign and domestic investors rushing to buy.
In the first hour of trade, the Sensex was sharply higher by 414 points or 1.23 per cent. Nifty-50 scaled an intra-day high of 10,343.60. Profit-taking, however, emerged and the 30-share index ended the day 235.98 points or 0.71 per cent. Nifty-50 settled the day at 10,283.60, up 0.67 per cent.