Morning Alert.. *Manufacturing PMI falls to 5-year low in August amid sales slowdown* India’s private sector manufacturing activity expanded at its slowest pace in five years in August as weak demand slowed sales, output and hiring, a private survey showed on Tuesday. HSBC’s India Manufacturing Purchasing Managers’ Index (PMI), which tracks monthly changes, fell to 52.8 in August from 53.5 in July. The reading was the lowest since August 2021 (when it was 52.3) and also below the index’s long-run average of 54.2. The latest figure — a weighted average of new orders, output, employment, suppliers’ delivery times and stocks of purchases — was also below the Flash India Manufacturing PMI estimate of 52.9 released earlier in August. The index remained above the 50-mark, indicating expansion in activity. A reading below 50 signals contraction. August also marked the 59th consecutive month of expansion. “India’s final manufacturing PMI slipped to 52.8 in August, extending its decline for a third consecutive month. The output index fell to its lowest level since August 2021, signalling that production is still expanding but at a markedly slower pace,” said Pranjul Bhandari, chief India economist at HSBC.
*Global market action* Dow Jones – Up by 0.04% or 22.75 points FTSE – Down by 0.32% or 34.98 points CAC – Down by 0.39% or 32.65 points DAX – Down by 1.11% or 288 points Gift Nifty – Down by 0.18% or 43.00 points
*FII/DII activities* FII – Bought 1143.38Cr worth of shares DII – Bought 1846.94Cr worth of shares.
*Major Indian Indices PE* Nifty 50 – 20.3x Nifty Bank – 13.6x
*Stocks with high delivery percentage* HDB Financial Services Ltd – 87.8% SBFC Fianance Ltd – 84.9% Krishna Institute o Medical Sciences Ltd – 76.6% Jubilant Ingrevia Ltd – 75.9%
*Primary market activities* Listing today Annu Projects Ltd (Main board) – Subscribed 2.93x Sumax Engineering Ltd (NSE SME) – Subscribed 162.94x
*Commodities updates* Gold – Rs 151629/10gm, Silver – Rs 229400/kg, Brcrude – Rs 8535/barrel, Copper – Rs 1371.75/kg.