Foreign Portfolio Investors (FPIs) have turned cautious again, pulling out Rs 20,974 crore from Indian equities so far in September amid global uncertainties, higher US interest rates and bond yields, elevated crude oil prices and a weakening rupee.
The latest outflow comes after foreign investors returned to Indian equities in July and August, when they invested Rs 20,200 crore and Rs 29,630 crore, respectively, according to data from CDSL.
With the September selling, FPIs have now withdrawn a total of Rs 2.45 lakh crore from Indian equities so far in 2026, surpassing the Rs 1.66 lakh crore outflow recorded during the entire 2025.
According to the data, FPIs withdrew Rs 20,974 crore from Indian equities this month, till September 18. However, the trend of FPI investment through the primary market has been continuing in the month.
Dheeraj Gaur, Chief Investment Strategy Officer at Choice Wealth, attributed the latest selling by FPIs to three key factors — higher US interest rates
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