FPIs end two-month selling spree with big November buying
New Delhi: Foreign investors made a strong comeback to Indian equities in the first fortnight of November, investing Rs 84,290 crore after two consecutive months of net outflows, amid a global AI-related sell-off, falling crude prices and attractive large-cap valuations.
According to depositories’ data, Foreign Portfolio Investors (FPIs) made net investments of Rs 84,290 crore during November 2-13, covering nine trading sessions. This follows withdrawals of Rs 34,843 crore in October and Rs 35,861 crore in September.
With the latest inflows, cumulative FPI outflows from Indian equities have narrowed to around Rs 2.1 lakh crore in 2026 from nearly Rs 3 lakh crore a few weeks ago.
November’s buying represents a tactical shift rather than a structural return, said Vedant Gupte, Co-Founder and CEO of investment platform Trackk. Falling crude prices and money moving out of the crowded Asian AI trade prompted foreign investors to reduce their underweight positions in India, with most buying concentrated in index heavyweights.
Rohan Goyal, Investment Research Analyst at MIRA Money, said the global AI stock sell-off encouraged investors to explore opportunities beyond technology-heavy markets. Brent crude prices declined around 13 per cent in the first week of November to nearly $97 per barrel, while easing geopolitical concerns and attractive large-cap valuations further supported inflows.
Sustained buying helped the Nifty cross the 25,000-mark. Financials, telecom, capital goods, pharmaceuticals and automobiles witnessed aggressive buying, while select power stocks gained on strong earnings, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments. Going ahead, investors will track US Federal Reserve minutes, crude prices, rupee movements and expectations of an RBI rate hike, alongside corporate earnings and the Nifty’s ability to sustain levels above 25,000. In the debt segment, FPIs invested Rs 7,815 crore through the Fully Accessible Route and Rs 1,167 crore through the general route, while withdrawing Rs 702 crore through the Voluntary Retention Route.