S&P's rating upgrade to boost market sentiment

Positive Development

- ANANYA GROVER

S&P's INDIA SOVEREIGN credit rating upgrade to 'BBB' is seen as a positive by market players and they expect it to provide some relief at a time the market sentiment has been down due to US President Donald Trump's tariff announcements.

Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura Holdings, said the upgrade is a shot in the arm for the market sentiment, given other negative headlines around US tariffs.

Nilesh Shah, MD, Kotak AMC, said: "The rating upgrade is better late than never. It will give a psychological comfort to investors, especially global ones."