FPIs Pull Rs 19,837 Crore From India Stocks in 2 Days
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- FPIs withdrew Rs 19,837 crore (USD 2.1 billion) from Indian equities in the first two April trading sessions, per NSDL data, continuing a sustained sell-off.
- March 2026 saw the worst monthly FPI outflow on record at Rs 1.17 lakh crore (about USD 12.7 billion), a sharp reversal from February's Rs 22,615 crore inflow — the highest monthly inflow in 17 months.
- Total FPI outflows from Indian equities in 2026 have now reached Rs 1.5 lakh crore, according to NSDL data.
- VK Vijayakumar, Chief Investment Strategist at Geojit Investments, attributed the selling to crude spiking back above USD 100, steady rupee depreciation of about 4% since the war began, and dollar appreciation.
- Himanshu Srivastava of Morningstar Investment Research India said elevated US bond yields have improved the relative attractiveness of fixed-income assets, prompting global investors to rebalance away from equities.
- Vijayakumar said sustained FPI selling has pushed Indian market valuations to fair and in some segments attractive levels, but added that fresh inflows can only come with war de-escalation and a decline in crude prices.
Why it matters: With Rs 1.5 lakh crore already pulled out of Indian equities in 2026, the source frames valuations as now fair-to-attractive per Geojit's Vijayakumar — a potential opening for long-term buyers. But crude above $100, the rupee down 4% since the war began, and elevated US bond yields mean the experts quoted say inflows hinge on geopolitical de-escalation, leaving the market exposed to continued foreign selling pressure until then.
