Moody’s upgrade lifts market mood; Sensex up 236 pts, Nifty ends above 10,200


Benchmark indices ended higher on Friday after global rating agency Moody’s Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive.

This development that will give a big boost to Modi government, reduce the cost overseas borrowing and improve investments in India. Rating company, while justifying the upgrade said that the reforms undertaken by the government will “improve the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and sustainable growth.”

The S&P BSE Sensex ended at 33,342, up 236 points, while the broader Nifty50 settled at 10,283, up 69 points.

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Reblog – The Week Ahead (Week beginning August 8, 2016)


The original blog post is written by Hemant Parikh and can be found here.

RBI’s policy outcome, corporate earnings and macroeconomic data to dictate trend.

Next batch of Q1 June 2016 corporate results, progress of monsoon rains, macroeconomic data, trends in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term.

The major domestic event in the upcoming week is the Reserve Bank of India’s (RBI) third bi-monthly monetary policy meeting scheduled on Tuesday, 9 August 2016. The central bank had left its benchmark repo rate unchanged at 6.5% at its last meeting.

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