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Markets bounced back in late afternoon session after a range-bound day of trades this Friday on back of buying witnessed in rate-sensitive sectors such as banks, real-esate among others. The Sensex ended (provisional) at 20,279 - up 31 points. Nifty ended up 17 points at 6,187.
Risk appetite improved after Standard & Poor's maintained their rating on India without downgarding it which was feared by market participants due to country's burgeoning current account defecit.
According to TV reports, S&P has affirmed BBB- rating on India. They have retained their negative outlook. Further, they have said that there is a 1 in 3 chance of downgrading India in the next 12 months.
