New Delhi, 12 April (H.S.):

Foreign Portfolio Investors (FPIs) continue their relentless divestment from India's domestic equity markets. After aggressive selling in March, FPIs have maintained their net seller stance into April, offloading shares worth ₹48,213 crore by April 10.

In the initial two trading days of April—April 1 and 2—FPIs liquidated ₹19,837 crore worth of equities. This week, they extended the trend, withdrawing ₹28,376 crore over five days, repatriating capital from the local bourse.

Data from National Securities Depository Limited (NSDL) reveals that March saw FPIs record a staggering ₹1.17 lakh crore outflow—the highest monthly sell-off ever, eclipsing the previous peak of ₹94,017 crore set in October 2024. In 2026 year-to-date, foreign investors have extracted over ₹1.75 lakh crore from Indian equities.

Contrastingly, February 2026 marked a brief resurgence, with FPIs injecting ₹22,615 crore—the largest inflow in 17 months—following persistent selling since October 2024.

Experts attribute this to a climate of global apprehension fueled by the Iran-US-Israel conflict, casting shadows over worldwide economies. Crude oil prices hover near $100 per barrel, exacerbating pressures, while the weakening rupee further accelerates FPI exits from equity markets.

Rajiv Dutta, CEO of Capex Gold and Investments Private Limited, observes no immediate reversal in FPI sentiment. A return to buying awaits discernible positive shifts, including de-escalation in West Asia, normalized shipping through the Hormuz Strait, rupee stabilization, and robust Q4 corporate earnings. Favorable global conditions could swiftly pivot their stance.

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Hindusthan Samachar / Jun Sarkar