FPIs pulled out Rs 19,837 crore in two sessions

New Delhi: Foreign investors continued to exit Indian equities, withdrawing Rs 19,837 crore (USD 2.1 billion) in the first two trading sessions of April, weighed down by the West Asia conflict, rising crude oil prices, and persistent rupee depreciation.

This came following a record withdrawal of Rs 1.17 lakh crore (about USD 12.7 billion) from domestic equities in March, making it the worst monthly outflow. Before this, FPIs pumped in Rs 22,615 crore in February, the highest monthly inflow in 17 months.

With the latest withdrawals, total Foreign Portfolio Investors (FPIs) outflow has reached Rs 1.5 lakh crore so far in 2026, according to NSDL data. As per the data, FPIs continued to take out money in April, offloading equities worth Rs 19,837 crore in the cash market till April 2. Market participants attributed the sustained selling pressure to global macroeconomic headwinds and heightened geopolitical uncertainty.

“Continuation of the war, crude again spiking to above USD 100 level, the steady decline in the rupee and appreciation of the dollar triggered this record selling by FPIs,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.

Moreover, the rupee has depreciated by about 4 per cent since the war began, and fears of further depreciation have added to the weakness of the rupee, which, in turn, is triggering further selling by FPI, he added.