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The July HSBC Composite PMI in India rose to 61.4, marking a three-month high, according to the Economics report.
HSBC/S&P Global announced that India's manufacturing purchasing managers' index (PMI) for July, seasonally adjusted, rose from 58.3 to 58.5. The output index of the manufacturing PMI increased from 61.9 to 62.2.
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After reaching a new high, the Indian stock market took a short break. Mahindra's drag caused the large cap to experience the largest drop in over a month.
After reaching a historical high on Tuesday, the Nifty 50 index in India fell back on Wednesday.