Last week, the domestic equity markets ended at a record high as momentum continued in bluechip large caps.
According to the monthly PMI survey, due to gradual demand rise and strong inflows of new work, the sector has witnessed a fast-paced growth.
In August, the seasonally adjusted IHS Markit India Manufacturing PMI stood at 52.3, down from 55.3 in July.
The Federal Reserve will start dialling back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said.
Asian stocks traded mixed on Wednesday, a private survey showed accelerating Chinese services activity growth in July.
The Purchasing Managers’ Index (PMI) by IHS Markit India Manufacturing has witnessed a rise from 48.1 in June to 55.3 in July.
The Composite PMI Output Index, which measures combined services and manufacturing output, fell from 48.1 in May to 43.1 in June.
Covid-19 restrictions also curtailed international demand for Indian goods and new export orders decreased for the first time in ten months.
Recovery from the depths of the lockdown-induced recession has been swifter than expected: Fitch