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Sensex surges over 400 points after Moody's India upgrade

WION Web Team
Mumbai, Maharashtra, IndiaUpdated: Nov 17, 2017, 04:37 AM IST
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Sensex, Nifty rose in early trade after Moody upgraded India's credit ratings Photograph:(Reuters)

The benchmark The benchmark surged 414 points in early trade as Moody's upgraded India's credit ratings.

Nifty also rallied climbing to 10,339.15 in opening trade. 

Moody’s said the goods and services tax(GST) will "promote productivity", also forecasting India's GDP growth to grow at of 6.7 per cent for the fiscal year ended March 2018, with 7.5 per cent in 2019 and "similarly robust" levels from 2019 onward.

The credit agency also raised India’s long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.