Wollongong man Justin Boenesch, 23, was arrested on Saturday night and charged with wounding another person with intent to cause grievous bodily harm and larceny, in relation to Friday night's incident.

The police facts said that about 11.20pm Friday, the 53-year-old victim and his partner entered Atchison Street from Burelli Street on their walk home from City Diggers when they allegedly saw Boenesch cross the street towards them.

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The victim and Boenesch did not know one another.

The victim asked the accused how he was going, but Boenesch allegedly became "verbally upset".

The victim feared he was about to be assaulted and pushed Boenesch away.

What the victim described as two "scuffles" allegedly followed, and during the second scuffle the victim felt himself being punched in the ribs and his phone fell from his pocket.

The victim went to grab his phone, but Boenesch allegedly grabbed it first.

It was alleged Boenesch told the victim he had been stabbed and ran away.

The victim suffered four stab wounds, two in each side of his abdomen, and was taken to Wollongong Hospital where he underwent surgery.

Police arrested Boenesch at his Wollongong home on Saturday night after allegedly identifying him on CCTV footage in the area of the stabbing and finding his cap at the crime scene.

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Boenesch allegedly directed police to the victim's phone, which was under his bed, and the clothing and shoes he had been wearing the night before.

In his interview he made admissions to the alleged offending, and told police he had had about five to eight beers in Port Kembla on Friday night before returning to Wollongong by train.

He said he crossed paths with the victim and his partner while walking home.

Boenesch allegedly told police he was assaulted by the victim and while this was happening, he saw a piece of metal on the ground and aused it in a bid to escape.

Police were told that this piece of metal, described as being about 10 centimetres long and two centimetres wide, was dropped down a stormwater drain.

Boenesch acknowledged he could have instead run away, and could not explain why he allegedly took the victim's phone.

At Wollongong Bail Court on Sunday, police prosecutor Sergeant Richard Novatin opposed Boenesch's release on bail, citing the safety of the community and the possibility of offences being committed as the primary concerns.

Sergeant Novatin said the prosecution case was strong, and the matter was "extremely serious" given the victim and Boenesch had no connection.

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He described the attack as "random and unprovoked".

The court heard Boenesch had no prior criminal history.

Defence lawyer Cody Baxter told the court that at the time of the incident, Boenesch believed he was assaulted by the victim.

She agreed the prosecution case appeared to be strong, but it was bolstered by the cooperation of her client.

Ms Baxter said it was Boenesch's first time in court and he was a vulnerable person in custody due to his age.

Delay was another matter raised in favour of bail.

Ms Baxter said Boenesch, if granted bail, could observe such conditions as a curfew, an exclusion from the relevant area, no drugs or alcohol, and a set residential address.

Registrar Bruiceen Coulthard said that while Boenesch had been cooperative with police, she was not satisfied she could grant bail.

She said she had concerns about the seriousness of the offending.

Boenesch was remanded in custody to appear at court again on Monday.

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