Equity indices ended with small gains on Monday led by firmness in banks stocks. The Nifty closed below the 15,200 mark after trading above that level for most part of the session. The moderation in daily new COVID-19 cases in India improved risk sentiments. Barring FMCG and metal, all the sectoral indices on the NSE ended in the green.
As per the provisional closing data, the barometer index, the S&P BSE Sensex, rose 111.42 points or 0.22% at 50,651.13. The Nifty 50 index gained 22.40 points or 0.15% at 15,197.70.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index surged 0.86% while the S&P BSE Small-Cap index gained 0.7%.
Euro zone factory activity growth surged to a record high in April, boosted by burgeoning demand and driving a rise in hiring, although supply constraints led to an unprecedented rise in unfulfilled orders, a survey showed. While a third wave of coronavirus infections in Europe has forced some governments to shutter much of their dominant .
The local stock market lost a little more ground as investors continue to wait for more market moving news.
The PSEi shed 10.13 points or 0.16 percent to close at 6,359.15 with only the Financials counter managing to close in the green.
Volume remained anemic at 3.19 billion shares worth P4.63 billion as losers overpowered gainers 149 to 57 with 43 unchanged.
(Photo credit: https://www.pse.com.ph)
“Philippine shares closed slightly lower as investors returned back into the US where shares tied to economic reopening rallied on relaxed pandemic restrictions,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, “Property index heavy-weights ALI and SMPH also released their 1Q earnings, which set the tone for today’s muted PSEi performance.”
Manufacturing activity surge drives PMI to record high
Updated / Tuesday, 4 May 2021
06:51
The outcome here was largely mirrored across the euro zone where activity has been bouncing back after the slowdown brought about by the pandemic
Business Journalist
Conditions in manufacturing improved vastly in the month of April bringing AIB s monthly measure of activity in the sector to a record high.
The Purchasing Managers Index - or PMI - is a composite, single-figure indicator of manufacturing performance derived from indicators for new orders, output, employment, suppliers delivery times and stocks of purchases.
Activity is measured on a scale of 1 to 100 with any figure greater than 50 pointing to expansion in a particular sector.
ISM Purchasing Managers’ Index
Business optimism has been on a tear over the last six month as executives in the manufacturing and service sectors note the general expectation that the US economy will expand more than 6% this year.
The Manufacturing Purchasing Managers’ Index (PMI) from the Institute for Supply Management (ISM) averaged 61.2 for the four months from December through March, which was the highest since March 1984. The New Orders Index average of 64.7 over the nine months to March was the highest three-quarters of a year since August 2004. The March Employment Index rating of 59.6 was the best score since March 2018.
Manufacturing New Orders Index