Indian equities closed in the red for the first time in four months – Indian equities closed in the red for the first time in four months down by 2.75% post a 7.8% rally in December. The markets sold off in the second half of the month as FPI flows slowed down over concerns that the Democrats will find it difficult to push through an enhanced stimulus package anytime soon. FII inflows too slowed down to `19,742 crore in January post record inflows of `62,016 crore in December 2020. The sell off in the second half of the month could also be partly attributed to profit booking prior to the Union Budget.
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