Sensex up 167 pts as Moody’s upgrades India’s rating outlook

The benchmark BSE Sensex rose over 167 points in early trade today after rating agency Moody’s raised India’s rating outlook from stable to positive. Besides, a firming trend at other Asian markets buoyed the sentiments here.

The 30-share index, which had gained 750.26 points in past four sessions, rose further by 167.33 points, or 0.58 per cent, at 28,875.08 with all sectoral indices, led by metals and IT, rising up to 0.92 per cent. On similar lines, the National Stock Exchange index Nifty moved up by 42.80 points, or 0.49 per cent, at 8,757.20.

Brokers said sentiments were bolstered after rating agency Moody’s upgraded India’s credit rating outlook from stable to positive, accelerating buying activity.

Among other Asian markets, Kong’s Hang Seng index zoomed 5.43 per cent to a new 7—year high while Japan’s Nikkei gained 0.65 per cent in early trade. The US Dow Jones Industrial Average ended 0.15 per cent higher in yesterday’s trade.