As of 2:45 PM IST, Sunday 25 October 2026. Based on depository (CDSL) data reported by PTI on Sunday, 25 October, analyst comments carried by PTI and IANS, and PTI's weekly market-capitalisation report. Indian markets were closed on Sunday. Different data sources give different FPI totals, as explained below.
Foreign portfolio investors (FPIs) have pulled a net ₹48,056 crore out of Indian shares so far in October, according to depository data reported by PTI on Sunday. That takes total foreign outflows from Indian equities in 2026 to about ₹3.08 lakh crore, nearly twice the ₹1.66 lakh crore withdrawn in the whole of 2025. There was one hopeful sign: selling slowed sharply in the week to 23 October, and FPIs were net buyers on two trading days.
FPI flows in numbers
| Period | Net FPI flow into equities |
|---|---|
| July 2026 | +₹20,200 crore |
| August 2026 | +₹29,631 crore |
| September 2026 | −₹35,861 crore |
| October 2026 (so far) | −₹48,056 crore |
| 2026 year to date | About −₹3.08 lakh crore |
Source: CDSL data as reported by PTI. Figures include primary-market (IPO) investment.
Why the totals differ
Geojit's V K Vijayakumar, quoted by IANS, put FPI selling through the exchanges in October at ₹53,337 crore, partly offset by about ₹5,281 crore invested through IPOs. The depository figure above is a net number that includes primary-market buying, which is why it is lower. Both measures show heavy selling.
What drove the selling
- Crude oil: analysts quoted by PTI pointed to Brent near $114 a barrel amid West Asia tensions, which raises India's import bill and inflation risk.
- Earnings worries: second-quarter results have been fairly strong, but higher oil and logistics costs could hurt future quarters, MIRA Money's Anand K Rathi said.
- High US interest rates continue to make US assets attractive.
- IPO liquidity: the ₹30,213-crore Jio Platforms IPO temporarily absorbed market liquidity, according to Choice Wealth's Dheeraj Gaur.
Why selling slowed last week
Vijayakumar linked the slowdown to three things: the US 10-year Treasury yield easing from 5.36% to about 5%, the rupee strengthening to 94.94 per dollar, and cheaper valuations, especially in large-cap stocks. Trackk's Vedant Gupte said foreign ownership of Indian shares was already at multi-year lows. He added that continued FPI buying of IPOs suggests a rotation out of existing holdings rather than a loss of faith in India. Analysts also cautioned that FIIs were still net sellers for a 10th straight week.
In debt, foreign investors were net sellers in October. They withdrew ₹3,858 crore through the Fully Accessible Route and ₹1,332 crore through the Voluntary Retention Route, while putting ₹3,737 crore in through the general route.
The week's damage to India's biggest companies
In a holiday-shortened, four-session week, the Sensex fell 1,605.44 points (2.15%) and the Nifty 546.15 points (2.36%), PTI reported. The combined market value of BSE-listed companies fell by about ₹20.79 lakh crore. Eight of the 10 most valuable companies lost a combined ₹1,55,672 crore:
- HDFC Bank: −₹55,507 crore (to ₹10.67 lakh crore)
- Bajaj Finance: −₹34,181 crore
- Reliance Industries: −₹27,065 crore. It remains the most valuable company at ₹16.10 lakh crore.
- LIC: −₹21,062 crore
- Gainers: TCS rose by ₹23,518 crore and L&T by ₹1,789 crore.
IANS also noted much steeper falls in smaller stocks: the Nifty Midcap 100 fell 5.6% and the Nifty Smallcap 100 7.3% over the week. Analysts said forced selling of margin-funded positions may have played a part, but that has not been confirmed.
What to watch this week
- The US Federal Reserve's FOMC decision and the Bank of Japan's rate decision.
- US GDP data.
- Brent crude, and developments in the US-Iran and Russia-Ukraine conflicts.
- Whether the two days of FPI buying turn into a trend or the selling returns.
Disclaimer: This article is for information only and is not investment advice or a recommendation to buy, sell or hold any security. HorizonDesk is not registered with SEBI as an investment adviser or research analyst. Please consult a SEBI-registered professional before making investment decisions.
Related reading on HorizonDesk
- Sensex and Nifty post a weekly fall as Brent hits $116
- US Treasury yields above 5%: what it means
- Jio Platforms IPO subscribed 22 times
- The Fed is raising rates again: what it means for your money
Sources
- The Hindu / PTI: FPIs withdraw ₹48,056 crore from equities in October so far (25 Oct 2026)
- Business Standard / PTI: FPIs withdraw ₹48,056 crore from equities in October (25 Oct 2026)
- IANS: FPI selling stands at ₹53,337 crore in October so far (25 Oct 2026)
- Rediff Money / PTI: Top firms lose ₹1.55 lakh crore in market cap (25 Oct 2026)
- The Economic Times: Mcap of 8 of top-10 firms erodes by ₹1.55 lakh crore (25 Oct 2026)
