Foreigners sell $5 billion of Indian stocks as profit view dims

Stocks in India look set for further declines as foreign investors resumed selling shares amid persistent worries over company earnings growth and sluggish consumption. Global funds pulled a net $5.4 billion from Indian equities in Jan, marking the worst start to a year, after a brief reprieve last month. While inflows into mutual funds remain robust, continuous selling by foreigners have neutralized much of that support.