PURCHASING MANAGERS INDEX
June services activity gets export push, PMI at 60.5
India's services sector saw robust growth in June, driven by a record surge in international sales and strong demand, according to HSBC’s PMI, which rose to 60.5. Employment grew at its fastest pace in 22 months. Despite rising market uncertainties, service providers remain optimistic about future business activity.
Budget 2024: Will India’s robust manufacturing segment sway Sitharaman’s decisions? A look at PMI numbers
India manufacturing PMI Budget 2024 | Finance Minister Nirmala Sitharaman's upcoming Budget for 2024 is set against the backdrop of robust manufacturing PMI readings, signaling strong economic growth. The latest GDP figures for Q4 and FY24 underscore this momentum, driven by resilient manufacturing and services sectors. Amid global uncertainties, the budget aims for continuity, balancing growth and coalition priorities.
Income tax saving: Sold land, house or jewellery? Know how indexation benefit can help you lower your long-term capital gains
Capital gains taxation: You can save your net capital gains tax outgo by using indexation benefits allowed by income tax laws. File ITR now and pay a lower amount of capital gains tax. However do note only long term capital gains are eligible for indexation. Short term capital gains are not eligible for indexation.
US PMI data triggers sharp decline in gold prices
Gold prices surged to a two-week high of $2,366 following a second rate cut by the Swiss National Bank and weaker US data. Traders anticipate a move by the US Federal Reserve, especially after the European Central Bank's rate cut.
Eurozone business activity slows on French vote risk
Euro-area private-sector business activity lost momentum as France's snap election outcome weighs on firms. S&P Global's PMI fell to 50.8 in June, disappointing analysts. Europe's economy, recovering from last year's recession, faces challenges.
S&P 500, Nasdaq hit record closing highs ahead of data, Fed comments
The S&P 500 and Nasdaq hit record highs fueled by technology shares and AI enthusiasm ahead of economic data and Fed speeches.
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Why your MF purchases on June 4 did not go through the same day?
Investors rushed to invest lump sums in equity mutual fund schemes on June 4 after the stock market fell post the electoral verdict. They expressed disappointment on social media as they received the units at the NAV of the next day, missing out on taking advantage of the market rebound.
Flexible approach in managing liquidity to help money market rates
RBI Governor Shaktikanta Das announced the central bank's commitment to maintaining money market rates and borrowing costs through flexible liquidity management. The RBI will use various operations to manage liquidity, responding to foreign investment flows impacting Indian bond markets. Analysts predict significant foreign flows following inclusion in JPMorgan's bond index, potentially affecting rupee liquidity. Das highlighted the RBI's ability to handle liquidity impact and swiftly respond to banking system liquidity fluctuations.
Tripti Dimri joins Mumbai's elite with lavish bungalow purchase worth Rs 14 cr: Check details
Bollywood actress Tripti Dimri has purchased a luxurious bungalow in Mumbai's Bandra West for Rs 14 crore. The property, located off Carter Road, includes a ground-plus-two-storey structure with a total area of 2,226 square feet. Dimri paid Rs 70 lakh in stamp duty and a registration fee of Rs 30,000. The transaction was registered on June 3, 2024.
China's exports grow 7.6% in May, beating expectations despite trade tensions
In May, China's exports surged by 7.6% year-on-year to $302.35 billion, surpassing expectations, despite ongoing trade tensions. Imports, however, grew only by 1.8%, missing forecasts of 4% growth. This led to a widened trade surplus of $82.62 billion. The rise in exports is partly due to a low base from last year.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
US factory activity slips for a second month in May, ISM says
US manufacturing activity slowed in May with new goods orders dropping significantly. Input inflation fell from mid-2022 highs.
India's long-term bonds attract foreign investors as JPMorgan index inclusion nears
Overseas investors are buying longer-duration Indian government bonds in anticipation of inclusion in JPMorgan's emerging market debt index, expecting significant passive flows. Bonds with maturities of 10 years and more, notably the 7.18% 2033 and 7.30% 2053, have attracted foreign ownership amidst net selling of government bonds in recent weeks.
Eurozone business activity speeds up in May
The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global recorded a figure of 52.3, up from 51.7 in April and the highest in 12 months. Any reading above 50 indicates growth, while a figure below 50 shows contraction.
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
Bulls beat a path to China stock shop but foreigners dare not go in
Share prices have rebounded from multi-year lows in February on signs of more official support. The benchmark Shanghai index has climbed more than 3% since reports of the property rescue surfaced on Thursday, taking its gains to a fifth in 3-1/2 months, though the rally stalled on Tuesday as investors awaited more details on how the funding would work. Hong Kong-listed Chinese shares are up nearly 38%
A play on restructuring and higher growth: These auto stocks can deliver more than 18% return
In the last four days of strong volatile moves, one sector which has been able to keep its head above the water is the Auto sector. Is it because of results which are expected to be good or it is rotational trade which is taking place, is the question. Whatever might be the reason, after remaining under pressure for one or the other reason, the auto sector has been witnessing a transformation, right from restructuring to a slew of launches, coming from companies. There is a high probability that this trend of restructuring is likely to continue. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Euro zone business activity grows at fastest pace in almost a year
HCOB's composite Purchasing Managers' Index (PMI) for the currency union, compiled by S&P Global and seen as a good gauge of overall economic health, bounced to 51.7 in April from March's 50.3, surpassing a preliminary 51.4 estimate.
India's March services growth strong, exports at record high: PMI data
The final HSBC India Services Purchasing Managers' Index , compiled by S&P Global, rose to 61.2 last month from February's 60.6, confounding a preliminary reading for a fall to 60.3.
India’s rising factory activity boosts economy, flash PMIs show
Asia’s third-largest economy logged a blowout growth rate of 8.4% in the final three months of last year, although the figures were boosted by one-off items.
India's March business activity ends fiscal year on strong note
India's economy surged in March, marking its fastest expansion in eight months per HSBC's PMI. Manufacturing led growth, hitting its highest level since 2008, with robust demand and strong exports. Despite rising prices, optimism for the year ahead increased, fostering hiring. However, inflationary pressures may deter rate cuts by the Reserve Bank.
Services growth remained robust in February, but slowed slightly: PMI
Tuesday's survey injects a sense of optimism in the industry, the engine of economic growth and jobs, suggesting Asia's third largest economy will continue to grow at a world-beating pace this year after registering 8.4% last quarter.
China factory output shrinks for fifth month
China's factory activity contracted for the fifth consecutive month in February, with the official manufacturing purchasing managers index at 49.1. Non-manufacturing activity improved, but concerns about debt supply led to a rise in the bond yield. The yuan weakened against the dollar.
Indian economy remains resilient, says NCAER report
PMI for manufacturing activity accelerated to 56.5 in January from 54.9 in December 2023, reflecting an expansionary momentum while PMI for services went up to 61.8 in January from 59 in December 2023, it added. "The markers for the month like PMI and GST collections point to a resilient macroeconomic environment.
Dollar rangebound, an array of PMI data awaited
The dollar held broadly steady on Thursday as traders awaited a slew of business activity surveys to gauge the health of major economies and what that may mean for the global interest rate outlook.
Global factory check-up is about to reveal extent of nascent recovery
A recent uptick in a global index of manufacturing — to the highest level since mid-2022 — has spurred expectations the sector has reached a turning point after a broad consumer shift away from purchases of goods in favour of services.
CPI Inflation to ease in coming months: Flash Purchase Managers’ index launched jointly by HSBC and S&P
The flash Purchase Managers' index (PMI) jointly launched by HSBC and Standard and Poor's indicates that consumer price inflation is expected to rise moderately in the coming months. According to the data, service providers have not passed on input price increases to final consumers, and while manufacturers have, composite output prices are rising at a lower rate than the previous month.
Factory activity hits 18-month low in December as orders shrink; optimism rises to a three-month high
The HSBC India purchasing managers’ index of manufacturing eased further to 54.9 in December compared with 56 in the previous month. However, the easing had no impact on optimism, as the year-ahead outlook rose to a three-month high.
China's December factory activity shrinks more than expected, bodes ill for recovery
The official purchasing managers' index (PMI) fell to 49.0 in December from 49.4 the previous month, according to the National Bureau of Statistics, below the 50-mark separating growth from contraction and weaker than a median forecast of 49.5 in a Reuters poll. China's central bank said on Thursday it would step up policy adjustments to support the economy and promote a rebound in prices, amid signs of rising deflationary pressures.
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