Moneycontrol
Apr 25, 2012 12:26 PM IST | Source: Reuters

Markets hit after S&P cuts India outlook to negative

MARKETS-INDIA-SP-RATINGS-NEGATIVE-SENSEX:Markets hit after S&P cuts India outlook to negative

Markets hit after S&P cuts India outlook to negative

MUMBAI (Reuters) - Indian bond yields rose, while the rupee and stocks fell after ratings agency Standard & Poor's cut its outlook on the country to "negative" sparking fears it would lead to an actual ratings downgrade.

India's 10-year bond yield rose 4 basis points to 8.63 percent, while the rupee fell to 52.64 against the dollar from 52.48 before the action.

Domestic stocks were also hit, with the main BSE Sensex down 0.9 percent.

(Reporting By Mumbai Markets; Editing by Subhadip Sircar)

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