Market could Go in Wild Swings Today after S&P rating on India stays unchanged

Nifty and Sensex broke out of its consolidation of  almost 4 days on Friday largely on expectations that S&P would follow Moody’s action and upgrade India’s sovereign debt rating.

However S&P’s decision to keep status-quo could see wild swings on D-Street on Monday though larger trend remains up and global cues remain strong.

S&P on Friday kept its sovereign rate for the country unchanged at its lowest investment grade of “BBB minus” citing high govt debt and low income levels.

IT Stocks however might push on with its rally to balance down swing

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