Sensex gains over 300 pts on India’s rating upgrade; banks, metals, RIL lead

Epic Update Reliance Industries
The rally continued at Dalal Street as the Sensex surged 336.84 points or 1.02 percent to 33,443.66 after Moody’s upgraded India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive after a long gap of 13 years.

The Nifty also continue to trade above the 10,300-mark, rising 104.20 points or 1.02 percent 10,319.00.

Nifty Bank rallied over 400 points, backed by the rating upgrade. ICICI Bank, Yes Bank, PNB, Canara Bank, SBI and IDFC Bank gained 2-3 percent while Reliance Industries, ITC and Tata Motors rose over a percent.

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