Adani stock rout costs India spot in world’s top five markets

In the run-up to the Budget and amid heavy selloff in Adani Group stocks, foreign funds have taken out a little over $2 billion, or about Rs 17,300 crore from the Indian market in three trading sessions. The fall in Adani stocks —that have seen over $67 billion or about Rs 5. 6 lakh crore being wiped off their combined market capitalisation since January 24 — also dragged down India’s market valuation by nearly $150 billion.