Key gainers among the Sensex constituents included Power Grid, Mahindra & Mahindra, Asian Paints, Tata Steel, Sun Pharma, and HDFC Bank, reflecting broad-based optimism among investors. However, Kotak Mahindra Bank, Maruti, Wipro, and Titan experienced marginal declines.

'The material factor is that it (FDI) continues to come in. Very often when you see a very rapid growth on any statistic, you need some time for it to cool down also,' he said

"In CY-23-US, India, and Japan have been the biggest recipients of foreign flows. Outflows, were witnessed across Europe. Barring India and foreign flows have already turned weak for most countries in the second half of 2023", asserted Sunil Jain of Elara Capital