Indian services sector growth touches 10-month high in June on sharp upturn in new business: PMI
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
04-07-2025
- The Hindu
Rupee rises 16 paise to close at 85.39 against U.S. dollar
The rupee appreciated 16 paise to close at 85.39 (provisional) against the U.S. dollar on Friday (July 4, 2025), tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the U.S. U.S. President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened at 85.44 against the American currency and touched an intra-day high of 85.30 and a low of 85.50 during the session. The local unit finally settled at 85.39 (provisional), 16 paise higher than its previous closing price. On Thursday (July 3, 2025), the rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. 'We expect the rupee to gain on the falling U.S. dollar and the weak tone in crude oil. However, uncertainty over trade tariffs may cap sharp gains,' Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.24% to 96.94. Brent crude, the global oil benchmark, fell by 1.18% to $67.99 per barrel in futures trade. The USD-INR spot price is expected to trade in a range of 85.10 to 85.70, Mr. Choudhary said. Meanwhile, in the domestic equity market, the Sensex advanced 193.42 points, or 0.23%, to close at 83,432.89, while Nifty rose 55.70 points, or 0.22%, to 25,461.00. Foreign institutional investors (FIIs) offloaded equities worth ₹1,481.19 crore on a net basis on Thursday (July 3, 2025), according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June, aided by robust expansion in international sales and job creation amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday (July 3, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders.
Mint
04-07-2025
- Mint
Rupee rises 16 paise to close at 85.39 against US dollar
Mumbai, The rupee appreciated 16 paise to close at 85.39 against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened at 85.44 against the American currency and touched an intra-day high of 85.30 and a low of 85.50 during the session. The local unit finally settled at 85.39 , 16 paise higher than its previous closing price. On Thursday, the rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. "We expect the rupee to gain on falling US dollar and weak tone in crude oil. However, uncertainty over trade tariffs may cap sharp gains," Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.24 per cent to 96.94. Brent crude, the global oil benchmark, fell by 1.18 per cent to USD 67.99 per barrel in futures trade. According to Choudhary, USDINR spot price is expected to trade in a range of 85.10 to 85.70, Choudhary said. Meanwhile, in the domestic equity market, the Sensex advanced 193.42 points, or 0.23 per cent, to close at 83,432.89, while Nifty rose 55.70 points, or 0.22 per cent, to 25,461.00. Foreign institutional investors offloaded equities worth ₹ 1,481.19 crore on a net basis on Thursday, according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders. This article was generated from an automated news agency feed without modifications to text.
The Hindu
04-07-2025
- The Hindu
Rupee rises 21 paise to 85.34 against U.S. dollar in early trade
The rupee appreciated 21 paise to 85.34 against the U.S. dollar in early trade on Friday (July 4, 2025) as Asian currencies, including the rupee gained ground on renewed hopes of trade deals with the US. Forex traders said, U.S. President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline. The optimism spilled over into broader Asian forex sentiment, giving the rupee some fresh momentum. At the interbank foreign exchange, the domestic unit opened at 85.44 against the greenback. In initial trade, it witnessed a high of 85.34, registering a rise of 21 paise over its previous close. On Thursday, The rupee pared initial losses and edged up 7 paise to close at 85.55 against the dollar. "With the July 9 tariff deadline drawing near and President Trump's "One Big Beautiful Bill" looming in the background, markets are on edge. The rupee is expected to find solid support near 85.20 and trade in a broad range, with resistance likely around 86.20–86.40," CR Forex Advisors MD - Amit Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.20% to 96.98. Brent crude, the global oil benchmark, fell 0.38% to $68.54 per barrel in futures trade. "Brent crude has started inching higher once again, currently hovering around $68.20 per barrel. For India, a net oil importer, rising crude prices pose a near-term threat to the trade and current account balances," Pabari added. Meanwhile, in the domestic equity market, the Sensex declined 25.10 points or 0.03% to 83,214.37, while Nifty fell 7.70 points or 0.03% to 25,396.50. Foreign institutional investors (FIIs) offloaded equities worth ₹1,481.19 crore on a net basis on Thursday (July 3, 2025), according to exchange data. On the domestic macroeconomic front, the Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders.
