Markets have resumed it upward journey after a pause in the previous week as Nifty ended with a weekly gain of ~2.34%. The headline index, Nifty, registered highest closing in 22 weeks. Further, PSU banks, media and metal indices topped the list of top gainers.
India’s manufacturing activities in October grew at slower rate. HIS Markit Manufacturing PMI of India has fallen to 50.60 in October from 51.40 in the previous month. In October Manufacturing PMI has fallen to two years’ low.
The jobless rate in India has risen to 8.5% in October from 7.20% a month earlier. The slowing economic growth was main reason behind the recent rise in unemployment in the country.
Amid slowing economic growth, India’s core sector output has contracted by 5.20% in the month of September which is worst in 14 years. Baring fertilisers, all other sectors contracted, cement was among the worst hit due to extended and heavy lashes of monsoon rains.
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