Markets Take A Breather, Close Flat In Muted Trade; ONGC Soars As Oil Climbs Above $70
Halting its four-session rally, the 30-share BSE Sensex ended 2.56 points lower at 51,934.88.
PTI 01 June 2021, Last Updated at 5:21 pm Representational Image PTI 2021-06-01T17:17:22+05:30 Markets Take A Breather, Close Flat In Muted Trade; ONGC Soars As Oil Climbs Above $70 outlookindia.com 2021-06-01T17:21:47+05:30
The NSE Nifty snapped its seven-session winning run to close modestly lower on Tuesday as investors booked profits at higher levels despite a firm trend in overseas markets.
A declining rupee and lacklustre macroeconomic data also kept investors on the sidelines, analysts said.
Covid slows India s May manufacturing growth: PMI (Ld)
By IANS |
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Growth chart. (File Photo: IANS). Image Source: IANS News
New Delhi, June 1 : India s manufacturing sector growth slowed down considerably in May, as the second wave of Covid-19 impacted demand and order flow.
The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.
Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers Index (PMI) inched up to 50.8 (index reading) in May same as 55.5 in April.
The latest index reading pointed to a marginal improvement in business conditions that was the weakest in the current ten-month sequence of expansion.
Read more about Benchmarks end almost flat; ONGC jumps 3.5% on Business Standard. The domestic equity benchmarks ended almost flat after a volatile session on Tuesday. While selling was wide spread, most IT and pharma stocks managed to end in the green. Adani Group stocks were in demand.
Covid slows India’s May manufacturing growth issacjohn@khaleejtimes.com Filed on June 1, 2021
Employee work on the engines of Toyota cars inside the manufacturing plant of Toyota Kirloskar Motor in Bidadi, on the outskirts of Bengaluru, India.
Reuters file photo
Factory activity powered ahead in Europe last month and stayed strong in Asia as demand grew
India’s manufacturing sector growth slowed down in May to a 10-month low as the second wave of Covid-19 impacted demand and order flow, but elsewhere in Asia and Europe firms ramped up activities, a monthly survey said on Tuesday.
“The Indian manufacturing sector is showing increasing signs of strain as the Covid-19 crisis intensifies. Key gauges of current sales, production and input buying weakened noticeably in May and pointed to the slowest rates of increase in ten months. In fact, all indices were down from April,” said Pollyanna De Lima, economics associate director at IHS Markit.