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Thursday 17 August 2017
News updated at 10:33 PM IST

Moody's rating perks up stocks, Sensex up 305 points

Mumbai, Nov 27, 2012, DHNS: 22:48 IST
Key benchmark indices on Tuesday surged and settled at their highest closing level in over 2-1/2 weeks as investor sentiment got a boost by global credit rating agency Moody's retaining its stable outlook on India's sovereign rating followed by a healthy savings and investment rate that exceeded other emerging economies.

The market sentiment was also boosted by Prime Minister Manmohan Singh's comments
that he was confident of the UPA government numbers in Parliament -- after a meeting with UPA leaders.

Sensex at BSE gained 305.07 points or 1.65 percent to 18,842.08, its highest closing since November 8, 2012. The 50-unit S&P CNX Nifty at NSE rose 91.55 points or 1.62 percent to 5,727.45, its highest closing from November 8, 2012. The index hit a high of 5,733.20 and a low of 5,658 in intraday trade.

Also news of Greece's official creditors,including International Monetary Fund and European Union, had agreed on a deal to lower the country's debt burden also buoyed investor sentiment in D-Street.

Market sentiment was also boosted by data showing that foreign institutional investors (FIIs) remained net buyers of Indian stocks on Monday as they bought shares worth a net Rs 206.30 crore from the secondary equity markets as per data released by market regulator Sebi.

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A fruit vendor, holding an umbrella, waits for customers at a street in Kolkata on Thursday.

A fruit vendor, holding an umbrella, waits for customers at a street in Kolkata on Thursday.

Ranbir Kapoor, actor and co-owner Mumbai City FC meeting fans during the Indian Super League...

Ranbir Kapoor, actor and co-owner Mumbai City FC meeting fans during the Indian Super League...

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India's Ramandeep Singh in action against Austria in their final encounter of the Europe Tour...

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People from Parsi community cut a cake to celebrate their new year, Navroze, in Ahmedabad on ...

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Nail artist Murari Aditya, 75 years, shows his 38 inch long nails, at his residence in Kolkata ...

The first batch of Dasara elephants being welcomed on their arrival at Mysuru Palace on Thursday.

The first batch of Dasara elephants being welcomed on their arrival at Mysuru Palace on Thursday.

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: Participants struggle during a greased-pole climbing competition held as a part of independence...

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Activist Irom Sharmila with her husband British citizen Desmond Coutinha after getting married...

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A visitor looks at an art installation, symbolizing the partition of India and Pakistan...

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Artist Sunil Paul gives finishing touches on a statue of St. Mother Teresa at his studio...

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