FPI ownership in NSE-listed firms shrinks to 15.5-year low after record $18.9 billion outflow
Subscribe to enjoy similar stories. Weighed down by continued outflows—amounting to a record $18.9 billion in 2025—the ownership of foreign portfolio investors (FPIs) in companies listed on the National Stock Exchange (NSE) shrank to a 15.5-year low of 16.7% in the quarter ended December, according to data from the exchange. Within key indices, the share of FPIs in the Nifty 50 fell by 25 basis points (bps) quarter-on-quarter (q-o-q) to a more than 13-year low of 23.8%, while remaining broadly stable at 18.1% in the Nifty 500.
One bps is one hundredth of a percentage point. On the other hand, the share of domestic mutual funds in NSE-listed companies rose to a record high of 11.1%, aided by strong inflows from systematic investment plans and sustained equity buying. Active funds held 9.1% and passive funds the rest.
This marked the 10th consecutive quarter of record highs. The share of domestic institutional investors—including mutual funds, insurance companies, banks and other financial institutions—was at 19%, staying ahead of FPIs across the NSE-listed universe—the Nifty 50 and Nifty 500. The share of promoters in NSE-listed companies fell to a five-year low of 49.8% and a near seven-year low of 48.9% in the Nifty 500, while it edged up to 40.3% in the Nifty 50—the first increase in seven quarters.
Direct ownership by individual investors in NSE-listed companies fell by 25 bps q-o-q to 9.3%. On a combined basis—directly and through domestic mutual funds—individuals held 18.6% of the market, marginally lower than the 22-year high recorded in the previous quarter. Household equity wealth increased by ₹10 trillion in the first three quarters of FY26 (April-December), taking the cumulative accretion since April 2020 to
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