India's foreign exchange reserves declined by $5.7 billion to $666.9 billion in the week ended June 26, according to the latest CareEdge daily bulletin. The decline was primarily due to a fall in foreign currency assets and gold reserves.
The bulletin also highlighted that India's Services Purchasing Managers' Index (PMI) moderated to 57.4 in June from 59.8 in May, marking its lowest reading since January 2025, though it remained firmly in expansion territory.
On the policy front, the government has withdrawn the emergency natural gas supply restrictions imposed during the West Asia conflict, restoring normal gas allocation to fertiliser plants, refineries, city gas distributors and industrial consumers.
Globally, the S&P Global Eurozone Composite PMI was revised higher to 50.0 in June from the preliminary estimate of 49.5, signalling stabilisation in private sector activity after two months of contraction. In contrast, the UK Composite PMI slipped to 49.3 from 49.7 in May, indicating a second consecutive month of contraction.
The bulletin also noted that the FAO Food Price Index eased 0.3% month-on-month in June, marking its second straight monthly decline, supported by lower prices of cereals, dairy products and sugar.
Foreign portfolio investors (FPIs) remained net buyers, investing a net USD 315 million on July 3, including USD 247 million into equities. Meanwhile, mutual funds recorded net investments of Rs 99,519 million in July so far, with Rs 22,158 million flowing into equities and Rs 77,361 million into debt.
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