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 down on profit-taking, trade data
* India's BSE index falls 0.26 percent, while the NSE index falls 0.4 percent, off highs on profit-taking after the NSE stock futures breached the key psychological level of 6,000 for the first time since Jan. 7, 2011. * Traders also cite renewed concerns about India's current account deficit after data on Tuesday showed exports fell 4 percent to $22.3 billion in November, while imports jumped to $41.5 billion, leaving a trade deficit of $19.3 billion. * Traders focused on the outcome of factory data on Wednesday and inflation data on Friday, which are coming ahead of RBI's rate-setting meet on Dec. 18. * Rate sensitive stocks come under pressure: State Bank of India falls 1 percent, Tata Motors falls 1.4 percent. * Tata Consultancy services shares down 0.9 percent have fallen 6.04 percent in past 5 sessions on outlook concerns. (manoj.dharra@thomsonreuters.com)
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