Factory production accelerated in February from the previous month, while total new orders increased at the quickest pace in three months
As of 6:40 AM, GIFT Nifty Futures were up 79 points at 22,359, hinting at a higher start
Services sector's index climbed to 61.1 in February, its highest level since March of the previous year, compared to 56.5 in January
Electric commercial vehicle manufacturer PMI Electro Mobility Solutions on Friday said it has secured a Rs 250-crore strategic investment from a consortium of investors through a preferential allotment of equity shares, in its second round of private equity funding. The consortium led by Authum Investment & Infrastructure Limited (Authum), includes Antique Securities and associated HNI family offices and Nikhil Kamath-backed Gruhas, the company said. The fresh capital infusion will enable the company to accelerate its strategic initiatives, including the development of innovative solutions, technological advancements in production capabilities, and scaling of operations, PMI Electro Mobility said. These advancements will further strengthen the company's position in India's burgeoning electric vehicle (EV) sector and contribute significantly to sustainable urban mobility, it added. Incorporated in 2017, the eCV maker has a 2,500 unit annual capacity production facility in ...
Markets Today Highlights: Smallcap shares were among the top laggards in broader markets, with the Nifty Smallcap100 index ending down by 2.13 per cent
The index has been above the 50-mark separating expansion from contraction since July 2021
The higher demand supported output growth and prompted firms to recruit additional workers
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
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 preceding week ended on a positive note for equity benchmarks. On Friday, the BSE Sensex surged 0.96 per cent to close at 79,802.79, while Nifty also gained 0.91 per cent to settle at 24,131.10
In the previous session, the Sensex fell 0.54 per cent to close at 77,156.80, while the Nifty declined 0.72 per cent to settle at 23,349.90
Index has been above the 50-level separating growth from contraction for 39 consecutive months
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
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
Investors are a lot less dovish on the Fed, seeing little prospect of a move until September and even that is far from a done deal
Robust demand was supported by new business in the services industry, which grew at the fastest pace since January, as well as rising manufacturing output and new orders
Last month the Bank of England estimated the economy grew just 0.1% in the first quarter and would do only slightly better in the second
The reading has been consistently above the 50-mark separating expansion from contraction since August 2021
The manufacturing PMI has remained above the 50-mark for more than 30 consecutive months