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Foreign portfolio investors sell more in secondary markets than buy primary
In September, FPIs sold ₹45,537 crore through stock exchanges but invested ₹9,676 crore in primary markets, resulting in net equity outflows of ₹35,861 crore.
Foreign portfolio investors (FPIs) have been selling shares heavily on stock exchanges while still putting money into India’s primary markets, highlighting a divergence in where they are allocating capital, according to data cited by LiveMint Markets.
Through the first nine months of 2026, FPIs sold ₹3.16 trillion worth of shares through stock exchanges, while investing ₹55,524 crore in primary markets. The primary-market buying offset nearly 18% of the exchange-based selling, leaving net equity outflows of ₹2.60 trillion through September.
The mismatch was especially sharp in September, when FPIs sold ₹45,537 crore in the secondary market but invested ₹9,676 crore in primary markets. That split left net equity outflows of ₹35,861 crore for the month, the outlet said, adding that lower valuations have not yet outweighed concerns tied to earnings and dollar returns.