Indian equity markets and the rupee traded near the day's low after credit rating agency Standard and Poor's said there is a significant chance of cutting India's credit rating in the future.
The BSE Sensex dropped nearly 150 points or 0.8 per cent 18660 while the broader Nifty traded 45 points lower at 5,660. The rupee hit an intraday low of 53.13 against the dollar.
S&P roiled domestic markets in April when it cut India's sovereign outlook to "negative", putting at risk the country's current rating of "BBB-", the lowest investment-grade rating by the agency.
(With inputs from Thomson Reuters)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
