Equity Market Update
- India's Services Purchasing Managers' Index (PMI) made a strong recovery in February, increasing to 59.0 from 56.5 in January, which had marked its lowest level in over two years. The latest data, compiled by S&P Global, showed a significant rise in new business orders, both within the country and internationally, leading to higher output and a marked increase in employment.
- The Manufacturing Purchasing Managers' Index (PMI) fell to a 14-month low in February, dropping to 56.3 from 57.7 in January. This decline, attributed to slower growth in new orders and production, was reflected in a private sector survey.
- India's retail inflation, measured by the Consumer Price Index (CPI), dropped to a seven-month low of 3.61% in February, staying well within the RBI's comfort zone.
- India's wholesale price index (WPI)-based inflation increased to 2.38% in February 2025, mainly driven by higher fuel and power prices, as well as rising costs in the manufacturing sector, according to data released by the Ministry of Commerce and Industry on Monday. This marks a slight uptick from the WPI rate of 2.31% in January.
- The Indian economy maintained its strong performance in the fourth and final quarter of the year, with GST collections growing by 9.9% to ₹1.96 lakh crore in March, up from ₹1.84 lakh crore in the previous month.
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.