Friday, October 8, 1999
Markets turn euphoric, Sensex jumps 265 points
Shrugging off pre-poll nervousness, stock markets on Thursday greeted the victory of the BJP-led coalition with a scintillating rally with stocks and indices vaulting to new peaks.
Moody's upgrades India's rating
US-based rating agency Moody's Investors Service has raised the outlook to positive from stable for India's `BA2' rating on foreign and domestic currency debt and maintained that Indian business confidence now seemed less affected by political instability than in previous years.
Rupee gains ground against dollar
Even as Sensex shot up 265 points on the Bombay Stock Exchange, the rupee gained by four paise to close at 43.52/53 as news of the BJP-led National Democratic Alliance garnering a simple majority in the elections hit the inter-bank foreign exchange market.
|
|
