BSE Sensex and NSE Nifty closed higher on Friday. Photo: MintMumbai: India’s sovereign credit rating upgrade boosted investors’ confidence as both Sensex and Nifty on Friday ended with more than 0.5% gains, powered by financial and metal stocks. For the week, the Sensex eked out gains of 28.24 points, or 0.08%, but the Nifty dropped 38.15 points, or 0.36%. The rating upgrade came after a gap of 13 years—Moody’s had last upgraded India’s rating to ‘Baa3’ in 2004. Domestic institutional investors pocketed shares worth a net Rs847.45 crore while foreign portfolio investors sold equities worth a net Rs447.42 crore, as per provisional data.

Source: Mint November 17, 2017 04:16 UTC