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 will reduce the cost overseas borrowing and improve investments in India. Nifty ended the session to close at 10308.80. Realty and Banking stocks were the major gainers of the day while IT stocks were the major losers of the day.
Global Markets Update
Major US equity indices witnessed a weaker opening on the last trading day of the week, with investors tracking progress over the Republican-led tax cut legislation.
European markets opened mixed on Friday, as investors eyed an upcoming speech by European Central Bank President Mario Draghi due later in the day and as market sentiment mildly improved following an important step in a U.S. tax overhaul.
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