Capital Goods Shares Rise on HSBC PMI Data

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Shares of the Capital Goods rose on Friday after the robust HSBC PMI data which reflected reports of improving demand in December, as new orders increased for the fourteenth consecutive month.

Moreover, the rate of expansion was marked overall and the fastest since the end of 2012.

Capital Goods Shares Rise on HSBC PMI Data

Business conditions improved at a faster pace in all three market groups during the month, with the
sharpest expansion seen in consumer goods.

A composite indicator designed to give an accurate overview of manufacturing operating conditions - climbed to a two year high of 54.5 in December, up from 53.3 in the prior month.

Output in the Indian manufacturing sector rose in line with the headline index in December, with growth picking up to the quickest in two years.

BHEL was up 2.85 per cent, ABB rose 0.24 per cent, Crompton Greaves up 0.75 per cent, and others gained between 1-3 per cent. The BSE Capital Goods index was seen trading at 15,658 levels up by 263 points or 1.70 per cent.

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Read more about: hsbc pmi, capital goods, shares
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