FPIs Continue Heavy Selling In April, Pull Out ₹48,213 Crore In 10 Days After Record ₹1.17 Lakh Crore March Outflow

Mumbai: Foreign Portfolio Investors (FPIs) continued to sell Indian equities aggressively in April 2026. In just the first 10 days of the month, they pulled out Rs 48,213 crore (about USD 5.14 billion) from the stock market.

This comes after a massive sell-off in March, when FPIs withdrew a record Rs 1.17 lakh crore, making it the highest monthly outflow ever. The sudden shift is notable because FPIs had invested Rs 22,615 crore in February, which was the highest inflow in 17 months.

Total Outflows Cross Rs 1.8 Lakh Crore in 2026

With the latest selling, total FPI outflows in 2026 have reached around Rs 1.8 lakh crore so far. According to data from National Securities Depository Limited, the entire April outflow has come from the cash market segment till April 10.

Global Risks and Oil Prices Driving Selling

Experts say that global factors are the main reason behind this selling pressure. Rising geopolitical tensions in West Asia have pushed up crude oil prices, increasing fears of global inflation.

Himanshu Srivastava from Morningstar Investment Research India said that investors are avoiding risk due to uncertainty in global markets.

Energy Crisis and Rupee Weakness Add Pressure

VK Vijayakumar of Geojit Investments highlighted that the ongoing energy crisis, along with the weakening Indian rupee, is keeping foreign investors cautious.

He also pointed out that other markets like South Korea and Taiwan are currently more attractive for FPIs due to better earnings growth expectations compared to India.

Ceasefire Fails to Stop Selling

Even the recent ceasefire between the US and Iran did not change investor sentiment.

Vaqarjaved Khan from Angel One said that FPIs used the market rally after the ceasefire as an opportunity to exit further.

What Can Reverse the Trend?

According to analysts, FPI inflows may return only if key conditions improve. These include smooth operations in global oil supply routes like the Strait of Hormuz, stability in the rupee, and strong corporate earnings in India’s Q4 results.

Until then, foreign investors may continue to remain cautious.