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Benchmark Indices Snap Six-Week Slump as S&P Upgrade Fuels Rally
Benchmark Indices Snap Six-Week Slump as S&P Upgrade Fuels Rally
20
3
BTCCSquare news:
Indian equities broke a six-week losing streak as S&P Global's sovereign rating upgrade injected Optimism into cautious markets. The Nifty 50 edged up 0.05% to 24,631.30 while the Sensex gained 0.07% to 80,597.66 during Thursday's holiday-thinned session. S&P's elevation of India to 'BBB' with stable outlook—its first upgrade in 19 years—validated the economy's 6.8% growth trajectory and fiscal discipline.
Technology stocks led the charge, with Wipro jumping 2.01% and Infosys rising 1.5% after announcing a $150M Australian acquisition. The Nifty IT index outperformed with a 1.7% surge. Market breadth remained narrow as Tata Steel dropped 2.8%, reflecting lingering sectoral rotation ahead of macroeconomic data releases.
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