Benchmark indices were marginally higher in pre-opening trade despite global weakness.
India’s service sector continued to improve at the start of the quarter, with business activity rising at a faster pace, supported by new order growth.
Reflecting improvements in demand conditions, job creation accelerated to the sharpest since March 2011. Inflationary price pressures continued to ease further, with input and output charge inflation registering below their respective historical averages
The seasonally adjusted Nikkei India Services Business Activity Index rose from 50.3 to 51.4 in April. This signalled a faster expansion in output at Indian service firms than in the prior month. According to anecdotal evidence, greater inflows of new work helped to bolster activity. However, the latest upturn was modest and remained weaker than the series trend.
The seasonally adjusted Nikkei India Services Business Activity Index rose from 50.3 to 51.4 in April. This signalled a faster expansion in output at Indian service firms than in the prior month.
According to anecdotal evidence, greater inflows of new work helped to bolster activity. However, the latest upturn was modest and remained weaker than the series trend.
The seasonally adjusted Nikkei India Composite PMI Output Index rose from 50.8 to a three-month high of 51.9 in April, driven by faster output growth in both the manufacturing and service sectors. The latest reading was consistent with a modest rise in overall business activity.
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