Foreign Portfolio Investors Accelerate Sell-Off in April, Pushing 2026 Outflows Close to Rs 1.8 Lakh Crore
Foreign Portfolio Investors (FPIs), also referred to as Foreign Institutional Investors (FIIs), continued their aggressive selling in Indian equities in April 2026, offloading shares worth Rs 48,213 crore so far in the month. This fresh exodus has swelled the total net outflows for the calendar year 2026 to approximately Rs 1.79–1.80 lakh crore, according to data from the National Securities Depository Ltd ( !\NSDL )
What’s Driving the Massive Exodus?
Analysts and market reports attribute the sustained FPI selling primarily to:
Escalating geopolitical tensions in West Asia (including the US-Iran conflict that intensified toward the end of February).
Surging global crude oil prices, which have raised inflation and import bill concerns for India.
A weakening Indian rupee amid global risk-off sentiment.
Rich valuations in certain Indian sectors, prompting profit-booking and reallocation to other emerging or developed markets.
The selling was particularly heavy in financial services during March, with institutions offloading significant stakes in banks like