Moody's rating upgrade positive for India's financial ecosystem: Analysts

Moody’s sovereign rating upgrade for India to ‘Baa2’ with a stable outlook took benchmark indices, the S&P BSE Sensex and the Nifty 50, over 1% higher in intra-day deals to 33,520 and 10,339 levels respectively. 

Analysts see the move as a big positive for the Indian financial ecosystem and India Inc. The banking sector, they say, will be one of the key beneficiaries as it remains a proxy to the country’s economic growth. That apart, the recent recapitalisation plan for public sector banks will also be viewed more constructively.