Services sector in India recorded a robust performance and the output rose at the second-quickest pace since July 2010, according to S&P Global India Services PMI released on Monday.
Though the index eased to 57.8 in March from 59.4 in February, S and P Global said the index was in growth territory (above 50) for the twentieth successive month due to favourable demand conditions and new business gains were among the reasons cited for the latest rise.
Adani Group firms such as Adani Enterprises, Adani Green, Adani Transmission, Adani Wilmar, Adani Ports and Adani Power made gains during Friday's session. After opening at 17,451.25, the Nifty extended gains during the day and settled near the 17,600 level.
At 59.4 in February, the seasonally adjusted S&P Global India Services PMI Business Activity Index was at its highest level in 12 years and indicated a sharp expansion in output. It was 57.2 in January. Where growth was reported, survey participants mentioned favourable demand conditions
Tokyo [Japan] May 6 (ANI): India's service sector activity slipped to a seven-month low in April as businesses waited the outcome of general elections taking place, Nikkei Asian Review said on Monday.