Key Events for the Month of November 2022:

• Nifty (4.1%) moved up sharply 2nd month in a row with FIIs pouring in $4.5bn

• India’s retail CPI inflation, eased to a three-month low of 6.77% in the month of October. The country’s WPI inflation eased to 8.39% in October from 10.70% in September 2022.

• India reported in-line 2QFY23 real GDP growth at 6.3%YY. The uptick in sequential momentum, for real GVA Trade, Hotels, Transport, Communication, reflects some adjustment of the anomaly in 1Q GDP data and reopening trade.

• The gross GST revenue collection for the month of November 2022 accounted for Rs 1,45,867 crore. The revenue collection has witnessed a surge of 11% on an annual basis.

• FIIs were net buyers in the month of November 2022 to the tune of $4.6bn and DIIs sold to the tune of $769mn.