Markets to get cautious start; manufacturing PMI eyed
India, July 1 -- Indian markets wiped out early gains and ended slightly lower on Tuesday ahead of Prime Minister Narendra Modi's address to the nation. Today, the start of July month is likely to cautious amid mixed economic data coupled with rising coronavirus cases in the country. India has yet again recorded more than 18,000 cases in 24 hours, taking its total number of coronavirus cases to 585,792. Around 17,400 people have died from the fatal disease. Investors will be eyeing the manufacturing PMI for June which is slated to be released later in the day. Traders will be concerned as Fitch Ratings lowered India's growth forecast for 2021-22 fiscal to 8 percent from 9.5 percent projected last month. The rating agency retained its projec...
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