Manufacturing PMI

Pranjul Bhandari, chief India economist at HSBC, said that India's manufacturing activity ended a strong 2024 on soft note, amidst more signs of a slowing trend, albeit moderate, in industrial sector

According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024

In the previous session, the Sensex settled 843.16 points or 1.04 per cent higher at 82,133.12. Similarly, the Nifty ended higher 219.60 points or 0.89 per cent at 24,768.30

The rate of expansion is second-weakest in 11 months, the figure stood at 56.5 in January

HSBC final India Manufacturing PMI for November matches September's eight-month low of 56.5

HSBC Flash November PMI: Composite output index rises to 59.5, up from October's final reading of 59.1. Manufacturing PMI dips to 60.2, services PMI rises to 59.2

The survey also noted that new export orders exhibited stronger growth, following the weakest increase in a year and a half during September, with gains reported in new contracts

Investors will closely monitor quarterly earnings reports alongside manufacturing, composite, and services data for October

Indian manufacturers registered softer increases in new business and output during August

The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell for a second month in August, dropping to 57.5 from July's 58.1

Pace of expansion remains sharp and indicates strong demand and favourable market conditions, HSBC survey

The flash services PMI index rose to 60.4 this month from 60.3 in July, while a preliminary manufacturing PMI showed strong growth, albeit slightly weaker than last month

However, international sales expanded at the fastest pace in over 13 years, while job creation remained robust, and selling prices saw the steepest increase since October 2013

It was a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours

A figure above 50 in the index denotes expansion and that below signifies contraction

But the sector remains in expansionary territory in May. Manufacturing employment rose to one of the greatest extents seen since data collection started in March 2005

The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, dipped to 57.5 in May from April's 58.8, below a preliminary estimate of 58.4

Trading in the equity market will largely depend on two major events this week - general elections result and the RBI interest rate decision - analysts said, adding that the benchmark indices may rally on Monday on exit polls' prediction of a massive win for the BJP-led NDA and strong GDP data. Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the NDA expected to win a big majority in the polls. Counting of votes will take place on June 4. "All eyes are now on the most significant event of the past five years the outcome of the Lok Sabha elections, scheduled for Tuesday. Before that, market participants will react to the exit polls on Monday. "The market is approaching the event with caution, and the positive surprise from exit polls can lead to a rally as majority of the exit polls are giving 350+ seats to the NDA. Conversely, a negative surprise from actual results might trigger a knee-jerk reaction in the market,

Driven by robust demand in both manufacturing and service sectors, PMI in April climbed to 62.2 from March's final reading of 61.8

The manufacturing PMI has remained above the 50-mark for more than 30 consecutive months