FPI selling in Indian stock hits 7-month high on valuations, Adani rout

FPIs sold Indian equities in January as concerns over Adani group stocks mounted. The selloff coincided with a slide in equity benchmarks, with Nifty 50 falling 2.45%. Multiple reasons were cited for the selling, including expensive valuations, reallocation of funds to other markets for cheaper valuations, and Beijing’s reopening, easing Covid-19 controls.

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