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Indian stocks gain in early trade; concerns about FPI selloff remain
| Jan 17, 2023, 03:53:00 PM | ANI
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Indian stocks opened Tuesday's trade with marginal gains after having closed in the red the previous session. At 9.33 am, Sensex traded at 60,316.99 points, up 224.02 points or 0.37 per cent, whereas Nifty was at 17,964.75 points, up 69.90 points or 0.39 per cent. Today's rise in indices is despite concerns over slowing global economic growth and the pulling out of funds by foreign portfolio investors (FPIs) from India, which continues to hover over the investors' minds. Though, the rise in indices can be partly attributed to the moderation in both retail and wholesale inflation in India. India's wholesale inflation based on the Wholesale Price Index for the month of December 2022 was at 4.95 per cent (provisional), against the previous month's 5.89 per cent. In October, it was at 8.39 and has been falling since then. Notably, the wholesale price index (WPI)-based inflation had been in double digits for 18 months in a row till September.
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