Updated:
May 03, 2021 14:18 IST
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was at 55.5 in April, little changed from March’s reading of 55.4
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New export orders increased for the eighth consecutive month in April and at the fastest rate since October 2020. (Representational image)
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Reuters
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was at 55.5 in April, little changed from March’s reading of 55.4 India’s manufacturing sector activity was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis, a monthly survey said on May 3.
Factory orders, production rise at slowest rates in 8 month
03 May 2021, 16:37 GMT+10
New Delhi [India], May 3 (ANI): Economic conditions in India s manufacturing sector remained favourable in April as companies scaled up production in line with a further improvement in demand, according to the latest IHS Markit Manufacturing PMI released on Monday.
While output and sales increased at the slowest rates since last August due to an intensification of the Covid-19 crisis, there was a faster upturn in international orders.
Moreover, quantities of purchases expanded at one of the strongest rates seen for over nine years as firms sought to boost their inventories.
Factory Orders, Production Rise Slowest In Eight months In April: PMI Factory Orders, Production Rise Slowest In Eight months In April: PMI India s manufacturing sector activity was sluggish in April, as growth rates for new orders and output eased to eight-month lows as Covid cases rise
India s manufacturing activity was sluggish in April
Country s manufacturing sector activity was largely sluggish in April, as rates of growth for new orders and output eased to eight-month lows amid sharp spike in Corona virus cases, a monthly survey said on Monday.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers Index (PMI) was at 55.5 in April, slightly more than March s reading of 55.4.
The domestic indices continued trading with losses in early afternoon trade. The Nifty index traded above 14,550-mark. Mounting COVID-19 cases continued in the country and a negative trend in Asian equities spoiled sentiment.
At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 329.20 points or 0.67% at 48,453.16. The Nifty 50 index lost 75.40 points or 0.52% at 14,555.70.
In the broader market, the S&P BSE Mid-Cap index slipped 0.43% while the S&P BSE Small-Cap index rose 1.14%.
The market breadth was positive. On the BSE, 1,577 shares rose and 1,244 shares fell. A total of 169 shares were unchanged.
Derivatives:
The NSE s India VIX, a gauge of market s expectation of volatility over the near term, rose 1.06% to 23.2725. The Nifty 27 May 2021 futures were trading at 14,606.25, at a premium of 50.55 points as compared with the spot at 14,555.70.
Benchmarks traded sideways with modest losses in mid morning trade. The Nifty hovered near the 14,550 level. FMCG and metal stocks bucked the weak market trend. Mounting COVID-19 cases continued in the country and a negative trend in Asian equities spoiled sentiment.
At 11:23 IST, the barometer index, the S&P BSE Sensex, was down 346.65 points or 0.71% at 48,435.12. The Nifty 50 index declined 87.45 points or 0.6% at 14,543.10.
In broader market, the S&P BSE Mid-Cap index was down 0.42% while the S&P BSE Small-Cap index was up 1.01%.
The market breadth was positive. On the BSE, 1534 shares rose and 1193 shares fell. A total of 163 shares were unchanged.