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Showing posts with the label Services PMI

India Manufacturing PMI - 16 year high and Services PMI - 13.5 year high

India's manufacturing sector, as per the HSBC India Manufacturing PMI®, soared to a 16-year high of 59.1 in March, reflecting robust expansion. Notably, new orders and output surged , with growth across consumer, intermediate, and investment goods sectors. Input purchases rose significantly, indicating preparations for future sales uptick. Despite increased costs for materials like cotton and steel, output charge inflation softened. The outlook remains optimistic, with 28% of firms forecasting growth. The data suggests strong momentum in manufacturing, underpinning a positive economic outlook, contingent on managing cost pressures and sustaining growth. India's Services PMI for March 2024 surged to 61.2, indicating robust expansion in the service sector , with the Business Activity Index marking one of the strongest growth rates in over 13-and-a-half years. New order intakes soared, with a notable uptick in new export business, expanding at the fastest rate since Septemb...

India Services PMI

The Services PMI rose to 59.00 from prior month reading of 56.90. Input cost inflation receded to a 40 month low while the business confidence ticked higher and new business and output rose at the fastest rate in 3 months.  The composite PMI rose further to 58.50 from 57.40 , strongest since Sep 2023.

India Market Wrap

Follow your Playbook of trades !! USDINR trade has worked beautifully. Yesterday, we did get a sideways consolidation to initiate shorts for better part of the day. The next important support is 81.75 where profits can be booked on 75% of the position.  GQG Partners on Thursday announced the completion of USD 1.87 bn secondary equity transactions in the Adani portfolio companies.  Brokerage firm Citi estimates that the increase in free float in Adani Group companies will lead to inflows b/w usd 200 – 230 mn and the possibility of a change in weightage in MSCI's May review. Services PMI at a 12 year high The S&P Global India Services PMI expanded to a 12-year high of 59.4 in in the month of February ( prior 57.2 ) showing the best improvement in new business intakes in 12 years. Input cost inflation eased to a 23-month low, while output cost inflation slowed to a 12-month low.  In the recently concluded Assembly elections in North East – Nagaland, Meghalaya and Tripura...