Downgrade Warning
S&P affirms negative outlook on India, says chances of downgrade remain
Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday. Full Article
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MARKET EYE-Indian shares edge higher after 5-day losing streak
* The BSE index gains 0.35 percent, while the NSE index is up 0.19 percent, on their way to snap a five-session losing streak. * During the week the BSE lost 1.14 percent as of Thursday's close on fears about protracted negotiations over the "U.S. cliff" and uncertainty about the euro zone. * Recent under-performers are among the leading gainers. * Infosys shares rise 3.4 percent after falling 2.2 percent for the week as on Thursdays close, while cigarette maker ITC gains 0.6 percent after falling 4.06 percent for the week. * Bharti Airtel gains 3.6 percent, heading towards its fourth day of advances, while Idea Cellular is up 3 percent. * Bank of America-Merrill Lynch upgraded Bharti Airtel and Idea Cellular to 'buy' from 'neutral' citing the positive outcome of the 2G auction this week. (manoj.dharra@thomsonreuters.com)
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