Dynamite News
Sensex drops over 100 pts as Moody's cuts India outlook
Market benchmark BSE Sensex dropped over 100 points and the NSE Nifty slipped below the 12,000 mark on Friday after Moody's Investors Service lowered India's credit rating outlook citing concerns over the country's economic growth.
Mumbai: Market benchmark BSE Sensex dropped over 100 points and the NSE Nifty slipped below the 12,000 mark on Friday after Moody's Investors Service lowered India's credit rating outlook citing concerns over the country's economic growth.
The rupee also depreciated 30 paise against the US dollar to trade at 71.27 in early session. The 30-share index was trading 102.30 points, or 0.25 per cent, lower at 40,551.44.
In the previous session, the 30-share Sensex ended 183.96 points, or 0.45 per cent up at its new all-time high of 40,653.74. Similarly, the Nifty ended with a gain of 46 points, or 0.38 per cent, at 12,012.05.
Brent futures, the global oil benchmark, slipped 0.16 per cent to USD 62.19 per barrel.(PTI)