Equity Market Update
- India's Services Purchasing Managers' Index (PMI) increased to 59.3 points in December 2024, up from 58.4 points in November 2024, indicating expansion in the country's services sector.
- India's manufacturing activity saw its slowest growth of 2024 in December, with the Manufacturing Purchasing Managers' Index (PMI) dropping to 56.4 from 56.5 in November 2024. The data pointed to weaker demand in the sector, despite reduced cost pressures and robust job growth.
- India's retail inflation, measured by the Consumer Price Index (CPI), was 5.22% in December 2024, a slight decrease from 5.48% was seen November 2024. This reduction was mainly attributed to a slowdown in the rise of food prices, especially for vegetables, cereals, and pulses.
- Wholesale Price Index (WPI) inflation increased to 2.37% in December 2024, up from 1.89% in November. The rise was primarily driven by higher prices for food articles and the production of food products.
- Goods and Services Tax (GST) collections in January totalled Rs. 1.96 lakh crore, marking a 12.3% year-on-year growth.
- Indian equity indices experienced a slight dip due to global events, with the Nifty and Sensex registering month-on-month declines of 0.58% and 0.82%, respectively.
Past performance may or may not be sustained in future and is not a guarantee of any future returns, and should not be used as a basis of comparison with other investments. Index performance does not signify scheme performance Investors should consult their financial advisers if in doubt about whether the product is suitable for them.