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."
Maintaining the position of the fastest growing economy in the world, India’s business activity in April rose to the highest level in nearly fourteen years due to robust demand driven by new business.
Nifty rose for the third consecutive session on Tuesday to close at 22368, with a minor gain of 0.14 per cent.From the recent swing low of 21777, Nifty has recovered 670 points, says Devarsh Vakil, Deputy Head Retail Research, HDFC .
Driving this remarkable growth trajectory is the services sector, which witnessed a notable uptick to a three-month high at 61.7, compared to March's 61.2. The surge in new business, a pivotal indicator of demand, played a pivotal role in bolstering services activity., Economy News - Times Now