FPIs turn net sellers on Friday, weekly tally stays positive at ₹19,778 crore

Foreign portfolio investors (FPIs) ended the week on a cautious note, turning net sellers on Friday, July 24, even as cumulative flows for the week remained firmly in positive territory, according to data by the National Securities Depository Limited (NSDL).

FPIs pulled out a net ₹4,669.50 crore on July 24, snapping four consecutive sessions of net inflows. Equity alone saw an outflow of ₹2,607.28 crore, while the debt segment added to the pressure.

Debt-General recorded a net outflow of ₹902.32 crore and Debt-VRR saw an exit of ₹1,115.12 crore. Hybrid instruments also ended in the red at ₹47.36 crore outflow.

Debt-FAR was the lone bright spot, posting a marginal inflow of ₹6.81 crore on the day.

The week’s high point was Wednesday, July 22, when FPIs pumped in a net ₹14,788.06 crore, the strongest single-day inflow of the week.

The bulk of that came from debt markets, particularly Debt-General, which alone recorded a net inflow of ₹14,491.15 crore.

Equity contributed ₹3,617.34 crore on that day. Monday, July 20, also saw strong debt-driven inflows, with a total net investment of ₹5,408.11 crore, though equity remained marginally negative at ₹215.71 crore outflow.

Tuesday, July 21, saw net inflows of ₹2,594.40 crore, driven largely by equity at ₹1,928.03 crore, with Debt-FAR contributing ₹531.28 crore. Thursday, July 23, brought in a modest ₹1,657.41 crore, with equity inflows of ₹326.19 crore and Debt-FAR at ₹1,423.55 crore, though Debt-VRR remained a drag, posting an outflow of ₹3,309.35 crore.

Cumulatively, FPIs remained net buyers for the week, with total net inflows of ₹19,778.48 crore across equity, debt, hybrid, and mutual fund segments between July 20 and July 24.

Analysts attributed the debt-heavy inflows to policy tailwinds. “Debt inflows continue to be robust. This is partly in response to the debt taxation reforms announced by the government,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. However, he flagged emerging concerns: “The spike in Brent crude following the escalation of the conflict in West Asia is becoming a concern since it will again impact India’s macros if the price spike lasts longer.”

On the equity side, the mood turned cautious through the week. Provisional exchange data showed FIIs as net sellers during the week, with rising crude oil prices, a weaker rupee, and climbing US bond yields dampening appetite for Indian equities.

“The rise in the US 10-year bond yield to 4.7 per cent is largely negative for equities. This might slightly impact FPI flows to emerging markets,” Dr. Vijayakumar added.

Prabir Mukherjee, Deputy Vice President-Research, Bajaj Broking, noted that “foreign institutional flows are likely to remain volatile until there is greater clarity on the geopolitical situation and sustained stability in crude oil prices.”

Looking ahead, market participants said Q1 FY27 earnings results and developments in West Asia would be key monitorables shaping FPI flows in the coming sessions. Dr. Vijayakumar pointed out that “crude price is the data to watch”, adding that a decline and stabilisation in oil prices could prompt FPIs to turn “consistent buyers in India.”

Published on July 25, 2026