(Reuters) - Indian shares closed down nearly 1% on Friday after Moody’s Investors Service flagged domestic growth risks and cut its ratings outlook for the country, as well as some corporate companies and financial institutions.
The ratings agency lowered India’s ratings outlook to “negative” from “stable” on Thursday, citing increasing risks that growth in Asia’s third-largest economy will remain lower than in the past.
For the week, the NSE index eked out a gain of 0.15%, while the BSE index rose 0.39%.
Reporting by Nallur Sethuraman in Bengaluru; Editing by Amy Caren Daniel
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