The big bounce-back: Nifty logs biggest monthly gains since November 2020

FPIs buy shares worth Rs 6,300 crore, first net inflow since Sept 2021

India’s benchmark indices rose more than a per cent for a second day on Friday, with the Sensex and the Nifty capping their biggest monthly gains since August 2021 and November 2020, respectively.

The back-to-back gains came even as the US Fed raised interest rates by 75 basis points for a second straight month to control runaway inflation. However, optimism that the pace of tightening may slow down going ahead has buoyed sentiment. The Fed has maintained its strong commitment to bringing down inflation and has said further action will depend on data.

The Sensex closed at 57,570, up 712.46, or 1.25