FPI outflows hit ₹14,232 crore in May as geopolitical tensions, crude prices weigh
Foreign portfolio investors (FPIs) continued to pull money out of Indian equities in May 2026, offloading shares worth ₹14,232 crore through the secondary markets up to 8 May, according to analysts. The persistent selling has pushed total FPI outflows via exchanges in 2026 to ₹2,18,540 crore, underscoring the scale of risk aversion among overseas investors.
Key Developments in FPI Activity
Despite the headline selling, FPIs have continued to deploy capital through primary markets — including IPOs and qualified institutional placements — with total primary market investments reaching ₹12,340 crore so far this year. Analysts note that even as FPIs remain net sellers overall, selective buying is visible in sectors such as power, construction, and capital goods.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, pointed to a nuanced pattern:
