FPIs turn net buyers; pour Rs 53,739 crore in D-Street in Nov so far

Foreign investors turned net buyers of Indian equities in November, infusing Rs 53,739 crore in the first nine days after two consecutive months of outflows, driven by the AI-led sell-off in global markets, strong domestic earnings growth and attractive large-cap valuations.

The latest investment follows net outflows of Rs 34,843 crore in October and Rs 35,861 crore in September, according to data available with the depositories.

"The sudden change in FPI stance was triggered by the AI sell-off in the US and other AI markets like South Korea, Taiwan and Japan.

"This sell-off, in turn, was triggered by fears surrounding data centre spending in the US. The Democrats, who won both chambers of Congress, are opposed to indiscriminate data centre spending. They will demand guardrails for AI," said V K Vijayakumar, Chief Investment Strategist at Geojit Investments.

The AI-led sell-off has made India, widely regarded as a non-AI trade, an attractive destination for Foreign Portfolio Investors (FPIs).

Besides, the country's impressive earnings growth and attractive valuations of large-cap stocks have further strengthened its appeal, he added.

According to depository data, FPIs made a net investment of Rs 53,739 crore in Indian equities during November 2-9. This includes a total of six trading days.

With this, cumulative FPI outflows from Indian equities in 2026 stood at Rs 2.41 lakh crore.

Sector-wise, FPIs turned major buyers in index heavyweights, especially in financial services, information technology, automobiles and telecom.

In the debt segment, foreign investors invested Rs 7,759 crore through the Fully Accessible Route (FAR), while withdrawing Rs 591 crore through the Voluntary Retention Route (VRR) and Rs 270 crore through the general route.