FPIs pull out ₹52,703cr from Indian equities in March
21 Mar 2026

Foreign portfolio investors (FPIs) have pulled out a whopping ₹52,703 crore from Indian equities in the first half of March.

The financial sector was the worst hit, witnessing an exodus of ₹31,831 crore during this period.

The broad-based selling across sectors comes amid rising crude oil prices and geopolitical tensions that have weighed heavily on markets.

Automotive, telecommunications, and construction sectors hit
Sector impact

The rate-sensitive automotive sector, closely linked to energy and metal prices, also witnessed major outflows of ₹4,807 crore between March 1 and 15.

Other sectors like telecommunications, construction, and oil & gas were not spared either with withdrawals of ₹3,856 crore, ₹2,975 crore, and ₹2,932 crore respectively.

Even defensive consumption-oriented pockets such as healthcare and FMCG saw sell-offs worth ₹2,436 crore and ₹2,403 crore respectively during this period.

Capital goods sector sees FPI inflows
Inflow trends

Despite the widespread sell-off, some sectors managed to attract FPI inflows. Capital goods led the pack with investments worth ₹3,897 crore.

The metals and mining sector attracted flows of ₹876 crore during this period.

Other sectors like power, consumer services, and chemicals also saw inflows of ₹602 crore, ₹531 crore, and ₹225 crore respectively.

FPIs have offloaded domestic shares worth ₹1L crore
Market performance

After a February pause, FPIs have continued their selling spree in March with month-to-date equity outflows at ₹88,180 crore. They have offloaded domestic shares worth ₹1,01,527 crore in 2026.

In February, inflows of ₹22,615 crore were recorded along with a sell-off of ₹35,962 crore in January.

The Nifty PSU Bank index has been the worst hit by this trend with a decline of over 14% during this period.