Rat­ing ac­tion spooks mar­kets

The Hindu Business Line - - FRONT PAGE -

The BSE Sen­sex tum­bled 330 points on Fri­day to close at 40,323.61, as in­vestors pressed the exit but­ton af­ter Moody’s cut In­dia’s credit rat­ing out­look cit­ing growth con­cerns.

Profit-book­ing fol­low­ing the re­cent record-set­ting run and un­ease over frothy val­u­a­tions also took their toll, analysts said.

Sim­i­larly, the NSE Nifty plunged 103.9 points, or 0.86 per cent, to end at 11,908.15. The broader BSE mid-cap and small-cap in­dices also ended up to 0.79 per cent lower.

The Sen­sex had closed at fresh life­time highs in three of the five ses­sions this week, while the Nifty had re­claimed the key 12,000-mark af­ter five months.

Dur­ing the ac­tion-packed week, the Sen­sex ad­vanced 158.58 points or 0.39 per cent, and the Nifty inched up 17.55 points or 0.14 per cent.


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