Nifty Financial Services Index ended the day today, up by 1.05%. The broader Nifty 50 index, ended the day, up by 1%. Nifty PSU bank index ended the day, up by 0.41%. Nifty Private Bank index, ended the day up by 1.01%. Bajaj Finance was among the top gainers today at Nifty 50. It ended the day, up by 5.06%. Bajaj Finserv ended the day, up by 3.48%. Financial services and banking stocks gained today after the government announced that GST rates will be cut down by Diwali. S&P global upgrading India’s credit rating.

The rating upgrade was done on Friday, 15th August, 2025, by S&P. This was really close to the previous rating upgrade that India got by S&P on Thursday, 14th August, 2025. In that upgrade, the rating agency improved India’s sovereign rating from BBB to BBB-. In the latest move, the ratings of seven banks and three financial institutions were upgraded. The banks that received an upgrade were State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank. The financial institutions that received an upgrade were Bajaj Finance, Tata Capital, and L&T Finance.

As S&P extended its positive outlook of the Indian economy to India’s banking and financial sector, it has reinforced India’s economic stability in global markets. With the sectors enjoying the positive responses, investors should now keep an eye on whether the sustained credit rating improvements impact borrowing costs for banks, as well as their lending growth and profitability.