Foreign portfolio investors have withdrawn ₹48,056 crore from Indian equities in October so far, according to a PTI report of 25 October 2026 that cites depositories data from CDSL. Spectate Media has not seen the depositories data and relies on the PTI report. The report does not give the exact cut-off date for the October figure.
A third straight shift from buying to selling
FPIs were net buyers of ₹20,200 crore in July and ₹29,631 crore in August, then net sellers of ₹35,861 crore in September. The October outflow takes the cumulative 2026 withdrawal to ₹3.08 lakh crore, against ₹1.66 lakh crore for the whole of 2025, per the report. Selling eased in the week ended 23 October, when FPIs were net buyers on two trading days.
What analysts blamed
The report lists crude oil near $114 a barrel amid Middle East tensions, weak corporate earnings, inflation concerns and elevated US interest rates. It also points to domestic liquidity uncertainty, with the ₹30,213 crore Jio Platforms IPO absorbing money for a time. Choice Wealth's Dheeraj Gaur tied the selling to crude, geopolitics, earnings, inflation and liquidity. MIRA Money's Anand K Rathi said higher oil and logistics costs could weigh on earnings, while steady domestic institutional and SIP inflows cushioned the selling.
The other side of the argument
Geojit's V K Vijayakumar attributed the moderation to lower US bond yields, rupee strength and valuations in large caps. The US 10-year yield eased from 5.36% to about 5%, and the rupee strengthened to 94.94 per dollar. Trackk's Vedant Gupte said foreign ownership is already at multi-year lows, so the outflows may reflect rotation more than a loss of confidence.
Debt flows
In debt, FPIs withdrew ₹3,858 crore through the Fully Accessible Route and ₹1,332 crore through the Voluntary Retention Route, and invested ₹3,737 crore through the general route. On those figures, which Spectate Media has added up, debt saw a net outflow of about ₹1,453 crore.
Key numbers
- FPI equity flow, October so far: −₹48,056 crore (Net outflow)
- FPI equity flow, 2026 to date: −₹3.08 lakh crore (2025 full year: −₹1.66 lakh crore)
- Rupee: 94.94 per dollar (As cited in the report)
- Brent crude: About $114 (Cited as a main trigger)
What boards and CFOs should note
Three points. First, the monthly swing from a ₹29,631 crore inflow in August to a ₹48,056 crore outflow in October shows how quickly foreign flows can turn. Second, analysts point to the US Federal Reserve and Bank of Japan decisions, US GDP data and Brent crude as the next triggers. Third, the figures are partial for October and may change by month-end. Not investment advice.
Source: PTI via ETV Bharat, 25 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
