Market selloff on FPI exodus erases Rs 16 trillion mcap in a week

Despite heavy FPI selling, indices are still only about 5 per cent below record highs. Illustration: Dominic Xavier/Rediff Key Points Market breadth remained weak, with 2,989 stocks declining and 1,229 advancing The spot gold hit a new high of $4,976.59

FPIs pulled out Rs 22,530 cr from equities in Jan

Foreign portfolio investors withdrew over Rs 22,530 crore ($2.5 billion) from Indian equities so far this month amid rising US bond yields and a stronger dollar, continuing their selling streak from last year. Illustration: Dominic Xavier/Rediff This came following an