FIIs sold ₹2.6 lakh crore of Indian shares by September. Indian fund investors put in ₹2.7 lakh crore
From January to September 2026, FIIs took more money out of Indian shares than they put in during six of nine months. Over the same months, Indian investors put more into equity mutual funds than FIIs took out.
NSDL's data shows FIIs (foreign institutional investors) sold a net ₹2,60,302 crore of Indian equity from January to September 2026. AMFI's monthly reports show Indian equity mutual funds took in a net ₹2,73,111 crore over the same nine months. In NSDL's daily reports for 1 to 23 October, FIIs sold a further ₹48,056 crore.
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FIIs, the foreign institutional investors that NSDL now records as foreign portfolio investors, have been sellers of Indian shares for most of 2026. By the end of September, they had sold a net ₹2,60,302 crore of equity, according to NSDL, the depository that compiles their trades.
Over the same nine months, Indian investors put a net ₹2,73,111 crore into equity mutual funds. That figure comes from the monthly reports of AMFI, the mutual fund industry body.
The two numbers are close in size. They moved in opposite directions.
Month by month
| Month (2026) | FIIs, equity (₹ crore) | Equity mutual funds, net inflow (₹ crore) |
|---|---|---|
| January | -35,962 | 24,029 |
| February | 22,615 | 25,978 |
| March | -1,17,775 | 40,450 |
| April | -60,847 | 38,440 |
| May | -32,963 | 22,908 |
| June | -49,340 | 28,973 |
| July | 20,200 | 24,697 |
| August | 29,631 | 29,329 |
| September | -35,861 | 38,307 |
| January to September | -2,60,302 | 2,73,111 |
FIIs were net sellers in six of the nine months. March was the largest, at ₹1,17,775 crore.
Equity mutual funds took in money every month. Their smallest month was May, at ₹22,908 crore. Their two largest were March and April, when FII selling was also at its heaviest.
October so far
NSDL publishes a report for each trading day. Its reports dated 1 to 23 October show FIIs sold a net ₹48,056 crore of Indian equity in those 15 reports, about $4,988 million.
That takes their net selling for 2026 to ₹3,08,358 crore, up to 23 October. AMFI's figures for October are due in November.
How this year compares
NSDL also counts by financial year, April to March. In all of 2025-26, FIIs sold a net ₹1,80,832 crore of Indian equity.
In 2026-27, they had sold ₹1,77,238 crore by 23 October. That is about 98% of last year's full-year figure, in under seven months.
What the figures do not show
- Who bought the shares. Every share an FII sold had a buyer. The two series here do not show which buyers they were. Mutual funds, insurers, pension funds, companies and individuals all buy shares.
- What funds did with the money. An inflow into an equity fund is money investors put in. The fund may hold part of it as cash for a while.
- Every kind of fund. AMFI's equity schemes are active funds such as large cap, mid cap, flexi cap and ELSS. Index funds and ETFs are separate AMFI categories and are left out of the table.
- Prices. Selling and buying of this size can happen in a falling or a rising market. The figures here are flows in rupees, not returns.
Where your money sits
If you hold active equity funds, part of the ₹2,73,111 crore is yours. Monthly SIPs feed these funds too; Compound looked at them in ₹32,490 crore a month in SIPs.
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Questions
- How much did FIIs sell in Indian shares in 2026?
- A net ₹2,60,302 crore of equity from January to September 2026, by NSDL's monthly data. NSDL's daily reports for 1 to 23 October show a further ₹48,056 crore.
- How much did Indians put into equity mutual funds in 2026?
- A net ₹2,73,111 crore into AMFI's equity schemes from January to September 2026. Index funds and ETFs are counted separately.
- In which month did FIIs sell the most in 2026?
- March, with net equity sales of ₹1,17,775 crore.
- Did mutual funds buy the shares FIIs sold?
- The data does not show that. It shows FII selling and fund inflows over the same months, not who bought each share.
- When will October's mutual fund data come out?
- AMFI publishes its monthly report early in the following month, so October's figures are due in November 2026.
Sources
- NSDL, FPI Net Investment Details, calendar year 2026, monthly (data up to 23 Oct 2026)
- NSDL, FPI Net Investment Details, financial year (2025-26 and 2026-27 up to 23 Oct 2026)
- NSDL, Daily Trends in FPI Investments, October 2026 (reports dated 1 to 23 Oct 2026)
- AMFI, monthly reports January to September 2026, equity schemes net inflow
- AMFI, monthly report for September 2026
Compound is analysis, not investment advice. Reva Money is not a SEBI-registered investment adviser.
