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Stocks

India Sensex posts weekly gains as Moody's raises credit rating

Friday's surge after rating upgrade helps Sensex eke out weekly gain

MUMBAI (NewsRise) -- Indian shares ended the week higher after Moody's Investors Service upgraded the nation's sovereign credit rating for the first time in about 14 years.

The benchmark BSE Sensex index added 0.1% during the week, while the broader Nifty 50 Index lost 0.4%. On Friday, the Sensex rose 0.7%, or 235.98 points, to 33,342.80, while the Nifty gained 0.7%, or 68.85 points, to 10,283.60 after Moody's raised the nation's rating to 'Baa2' from 'Baa3', and changed its rating outlook to 'stable' from 'positive'.

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