Fitch Ratings downgraded the United States of America’s Long-Term Rating to AA+ from AAA leading to increase in US treasury yields and sell off in US stock markets. There is a small note on credit rating agencies. Indian Indices hit all time high with Nifty 50 gaining 2.88% and Sensex gaining by 2.80%. The market capitalization of BSE-listed firms crossed Rs. 300 lakh Crore as investors continued to be bullish.
Key M&A and Private Equity deals include demerger of Reliance industries and Jio Financial services, RIL’s financial services business and PE funds Tiger Global and Accel selling remaining stake in Flipkart to Walmart registering excellent gains. To read more, Click Here