FPIs Pull ₹1.92 Lakh Crore from India in 2026

Foreign portfolio investors (FPIs) pulled out ₹60,847 crore from Indian markets in April 2026, pushing total outflows for the first four months of the year to ₹1.92 lakh crore. That is a substantial exit in a short period, and it puts pressure on both equity valuations and the rupee. FPIs are foreign funds and institutions that invest in a country's stocks and bonds without taking direct business control. When they sell heavily, it drains liquidity from the market. Market participants pointed to two broad drivers: global macroeconomic headwinds and elevated geopolitical risks. Both forces tend to push international money toward safer assets, away from emerging markets like India. The scale of outflows over just four months signals that the selling is not a short-term blip. Investors will be watching whether domestic institutional buying can offset FPI pressure and whether global risk sentiment stabilises in May.