Mumbai: Key Indian equity indices on Thursday broke their three-day losing streak and provisionally closed in the positive territory, with the BSE Sensex surging over 300 points during the mid-afternoon session.
At 10.15 AM: Sensex jumped 341 points or 1.03% at 33,448.72 while the wider Nifty was up by over 108 points or 1.06% at 10,323.10. Moody's has revised the sovereign rating of India a notch above investment grade after a long gap of 14 years.
The 30-share Sensex soared to the day's high of 33,520.82, but profit-taking activity towards the end in heavyweights made the index settle at 33,342.80, up 235.98 points, or 0.71 per cent. Private Banks like ICICI Bank, Yes Bank, and Axis Bank gained more than 2% accelerating Nifty Bank to new 52 week high.
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The 50-share Nifty leaped 124.40 points, or 1.21 per cent, to 10,339.15.
The benchmark index of Bombay Stock Exchange (BSE) gained further on Friday by 235.98 points to 33,342.80 as global rating agency Moody's has upgraded India's sovereign bond rating to Baa2 from Baa3 with a stable outlook.
Moody's lifted the country's rating to "Baa2" from "Baa3", while also changing its rating outlook to "stable" from "positive". PSU Banking stocks like Punjab National Bank, Bank of Baroda and Canara Bank gained more than 3% in the initial hours of the market session.
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On the other hand, Infosys (1.79%), TCS (1.33%), ONGC (1.03%), Wipro (0.97%) and Asian Paints (0.76%) were the major losers in the Sensex.
China's Shanghai Composite shed 0.10 per cent in their early deals.
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