Key Events for the Month of February 2023:

• Nifty (-2.0%) drifted down due to global macro challenges and strong US economy leading to market anticipating higher for longer rates.

• India’s CPI inflation in Jan 2023 rose to 6.52% on costly food items and fuel. With this, the inflation has breached the RBI’s upper tolerance limit of 6%.India's WPI based inflation eased to 4.73 per cent in January 2023.

• The gross GST revenue collection in the month of February 2023 stood at Rs 1.49L crore, up around 12% on an annual basis. With this, the monthly GST revenues remained over Rs 1.4 lakh crore for 12 straight months in a row.

• FIIs were net sellers in the month of February 2023 to the tune of $628mn and DIIs bought to the tune of $2.3bn.