Key Events for the Month of May 2023:

• Nifty (2.6%) was up on back of strong foreign flows.

• Q4FY23, GDP growth is at 6.1% compared to 4.4% growth rate witnessed in Q3.

• India's CPI inflation eases sharply to 4.7% in April 2023. India's WPI inflation declined to -0.92% in April on an annual basis from 1.34% in March.

• India's gross GST revenue collection in the month of May stood at Rs 1.57L Cr, registering a rise of 12% on a YoY basis.

• FIIs were net buyers in the month of May 2023 to the tune of $4.9bn and DIIs sold to the tune of $406mn.