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What foreign portfolio investors (FPIs) and India's active equity mutual funds bought and sold, month by month and sector by sector. When one side sells, is the other buying?
FPI figures: CDSL’s fortnightly sector report, equity only, updated every fortnight. Mutual funds: every active equity fund’s monthly portfolio. For FPIs alone, fortnight by fortnight and by country, see Foreign investors.
Each side’s net buying as a percent of what it already held, so the two compare on one scale whatever their size. Above the line: bought more than sold. Hover or use the arrow keys for the rupee figures.
| Month | FPIs | % of holdings | Active funds | % of holdings | Funds matched |
|---|---|---|---|---|---|
| Oct 2026 | −₹34,843 Cr | −0.53% | +₹28,648 Cr | +1.06% | 479 of 482 |
| Sep 2026 | −₹35,861 Cr | −0.51% | +₹32,583 Cr | +1.02% | 534 of 560 |
| Aug 2026 | +₹29,631 Cr | +0.42% | +₹35,279 Cr | +1.14% | 503 of 535 |
| Jul 2026 | +₹20,199 Cr | +0.29% | +₹15,174 Cr | +0.57% | 445 of 503 |
| Jun 2026 | −₹49,341 Cr | −0.73% | +₹32,008 Cr | +1.28% | 426 of 445 |
| May 2026 | −₹32,963 Cr | −0.49% | +₹29,766 Cr | +1.40% | 332 of 426 † |
| Apr 2026 | −₹60,847 Cr | −0.97% | +₹18,834 Cr | +0.95% | 345 of 346 |
| Mar 2026 | −₹1.18 L Cr | −1.64% | +₹31,269 Cr | +1.34% | 351 of 375 |
| Feb 2026 | +₹22,615 Cr | +0.32% | +₹1,791 Cr | +0.08% | 332 of 352 |
| Jan 2026 | −₹35,962 Cr | −0.48% | +₹22,068 Cr | +1.22% | 221 of 332 † |
| Dec 2025 | −₹22,611 Cr | −0.30% | +₹11,496 Cr | +0.63% | 218 of 221 |
| Nov 2025 | −₹3,765 Cr | −0.05% | +₹20,086 Cr | +1.13% | 217 of 218 |
| Oct 2025 | +₹14,610 Cr | +0.21% | +₹10,513 Cr | +0.65% | 197 of 219 |
| Sep 2025 | −₹23,885 Cr | −0.34% | +₹16,546 Cr | +1.04% | 197 of 223 |
| Aug 2025 | −₹34,994 Cr | −0.49% | +₹21,091 Cr | +1.45% | 171 of 197 |
| Jul 2025 | −₹17,741 Cr | −0.24% | +₹19,080 Cr | +1.31% | 168 of 171 |
| Jun 2025 | +₹14,590 Cr | +0.20% | +₹33,948 Cr | +2.22% | 190 of 226 |
| May 2025 | +₹19,860 Cr | +0.29% | +₹23,560 Cr | +1.63% | 187 of 190 |
| Apr 2025 | +₹4,223 Cr | +0.06% | +₹6,776 Cr | +0.44% | 220 of 221 |
| Mar 2025 | −₹3,973 Cr | −0.06% | +₹3,259 Cr | +0.23% | 216 of 245 |
| Feb 2025 | −₹34,574 Cr | −0.51% | +₹14,270 Cr | +0.96% | 195 of 216 |
| Jan 2025 | −₹78,027 Cr | −1.10% | +₹9,904 Cr | +0.80% | 161 of 195 |
| Dec 2024 | +₹15,447 Cr | +0.21% | +₹14,895 Cr | +1.21% | 157 of 175 |
| Nov 2024 | −₹21,612 Cr | −0.30% | +₹16,509 Cr | +1.36% | 156 of 157 |
| Oct 2024 | −₹94,017 Cr | −1.21% | +₹18,426 Cr | +1.46% | 154 of 156 |
| Sep 2024 | +₹57,723 Cr | +0.76% | +₹19,472 Cr | +1.60% | 154 of 178 |
| Aug 2024 | +₹7,320 Cr | +0.10% | +₹1,945 Cr | +0.16% | 151 of 154 |
| Jul 2024 | +₹32,365 Cr | +0.45% | +₹8,758 Cr | +0.84% | 133 of 151 |
| Jun 2024 | +₹26,564 Cr | +0.40% | +₹20,456 Cr | +2.03% | 141 of 146 |
| May 2024 | −₹25,586 Cr | −0.39% | +₹12,230 Cr | +1.24% | 141 of 141 |
| Apr 2024 | −₹8,671 Cr | −0.14% | +₹5,264 Cr | +0.74% | 120 of 158 † |
| Mar 2024 | +₹35,098 Cr | +0.55% | +₹7,681 Cr | +1.23% | 103 of 143 † |
| Feb 2024 | +₹1,539 Cr | +0.02% | +₹7,474 Cr | +1.23% | 99 of 103 |
| Jan 2024 | −₹25,744 Cr | −0.42% | +₹8,178 Cr | +1.41% | 96 of 99 |
| Dec 2023 | +₹66,134 Cr | +1.18% | +₹9,077 Cr | +1.70% | 94 of 113 |
| Nov 2023 | +₹9,000 Cr | +0.17% | +₹6,054 Cr | +0.83% | 128 of 130 |
| Oct 2023 | −₹24,548 Cr | −0.45% | +₹4,975 Cr | +0.67% | 127 of 128 |
| Sep 2023 | −₹14,767 Cr | −0.28% | +₹7,721 Cr | +0.97% | 139 of 166 |
| Aug 2023 | +₹12,262 Cr | +0.23% | +₹7,304 Cr | +0.99% | 121 of 139 |
| Jul 2023 | +₹46,618 Cr | +0.91% | +₹2,761 Cr | +0.39% | 120 of 123 |
| Jun 2023 | +₹47,149 Cr | +0.97% | +₹7,216 Cr | +1.02% | 131 of 133 |
| May 2023 | +₹43,838 Cr | +0.94% | −₹3,466 Cr | −0.51% | 132 of 132 |
| Apr 2023 | +₹11,631 Cr | +0.26% | +₹2,241 Cr | +0.35% | 132 of 132 |
| Mar 2023 | +₹7,935 Cr | +0.18% | +₹6,911 Cr | +1.08% | 129 of 156 |
| Feb 2023 | −₹5,294 Cr | −0.12% | +₹3,903 Cr | +0.60% | 128 of 129 |
| Jan 2023 | −₹28,852 Cr | −0.60% | +₹2,203 Cr | +0.43% | 105 of 128 |
| Dec 2022 | +₹11,119 Cr | +0.22% | +₹2,386 Cr | +0.46% | 105 of 105 |
| Nov 2022 | +₹36,238 Cr | +0.76% | +₹11,964 Cr | +2.53% | 99 of 105 |
| Oct 2022 | −₹9 Cr | −<0.01% | +₹2,046 Cr | +0.45% | 102 of 102 |
| Sep 2022 | −₹7,623 Cr | −0.16% | +₹2,188 Cr | +0.56% | 86 of 125 † |
| Aug 2022 | +₹51,205 Cr | +1.13% | +₹669 Cr | +0.18% | 85 of 86 |
| Jul 2022 | +₹4,989 Cr | +0.12% | +₹3,098 Cr | +0.77% | 101 of 101 |
| Jun 2022 | −₹50,203 Cr | −1.14% | +₹4,440 Cr | +1.06% | 101 of 101 |
| May 2022 | −₹39,995 Cr | −0.86% | +₹3,823 Cr | +1.04% | 85 of 101 |
| Apr 2022 | −₹17,143 Cr | — | +₹4,710 Cr | +1.29% | 85 of 85 |
* first fortnight only. † under 80% of the month’s funds disclosed the month before too; the rupee figure covers only those funds, the percent is still comparable.
Where the money went. Sectors are the stock exchanges’ common classification, the one CDSL reports FPIs under; each fund’s holdings are mapped to it. Sectors where the two sides moved in opposite directions are marked. Each sector has its own page with its history and the companies in it.
Opposite directions in 8 sectors, led by Financial Services (FPIs −₹9,517 Cr, funds +₹4,298 Cr) and Fast Moving Consumer Goods (FPIs −₹9,731 Cr, funds +₹2,653 Cr).
| Sector | Active funds | Active funds, bar | FPIs | FPIs, bar | Weight: funds / FPIs |
|---|---|---|---|---|---|
| Financial Servicesopposite | +₹4,298 Cr | −₹9,517 Cr | 29.0% / 30.1% | ||
| Information Technology | −₹3.3 Cr | +₹13,514 Cr | 6.0% / 6.6% | ||
| Fast Moving Consumer Goodsopposite | +₹2,653 Cr | −₹9,731 Cr | 4.4% / 3.9% | ||
| Telecommunication | +₹4,666 Cr | +₹7,137 Cr | 3.2% / 5.7% | ||
| Capital Goodsopposite | +₹5,366 Cr | −₹4,711 Cr | 9.5% / 6.9% | ||
| Healthcareopposite | +₹3,980 Cr | −₹5,554 Cr | 9.8% / 8.1% | ||
| Automobile and Auto Componentsopposite | +₹1,844 Cr | −₹7,631 Cr | 8.2% / 7.3% | ||
| Metals & Mining | −₹530 Cr | −₹4,597 Cr | 2.3% / 3.9% | ||
| Oil, Gas & Consumable Fuels | +₹208 Cr | −₹4,650 Cr | 3.7% / 6.3% | ||
| Consumer Servicesopposite | +₹1,530 Cr | −₹2,593 Cr | 6.8% / 4.4% | ||
| Power | +₹673 Cr | −₹2,497 Cr | 2.7% / 3.6% | ||
| Construction | +₹604 Cr | −₹1,740 Cr | 2.0% / 1.8% | ||
| Realtyopposite | +₹1,046 Cr | −₹1,016 Cr | 1.5% / 1.7% | ||
| Consumer Durablesopposite | +₹812 Cr | −₹988 Cr | 3.5% / 2.6% | ||
| Services | +₹722 Cr | +₹920 Cr | 2.3% / 2.9% | ||
| Chemicals | +₹549 Cr | −₹821 Cr | 2.5% / 1.7% | ||
| Construction Materials | −₹432 Cr | −₹760 Cr | 1.6% / 1.5% | ||
| Textiles | +₹444 Cr | −₹80 Cr | 0.7% / 0.3% | ||
| Media, Entertainment & Publication | +₹81.4 Cr | +₹392 Cr | 0.1% / 0.2% | ||
| Others | −₹1.6 Cr | +₹222 Cr | <0.1% / 0.5% | ||
| Utilities | +₹161 Cr | −₹61 Cr | <0.1% / <0.1% | ||
| Forest Materials | +₹20.1 Cr | −₹108 Cr | <0.1% / <0.1% | ||
| Diversified | −₹44.6 Cr | +₹27 Cr | 0.1% / <0.1% |
Both bars share one scale. A sector’s weight is its share of that side’s equity at the month end: where funds are heavier or lighter than foreign investors.
FPIs. Net investment and holdings (assets under custody) by sector, as reported by custodians to the depositories and published by CDSL every fortnight, in rupees. Equity only, so government bonds (“Sovereign”) are left out. CDSL has used the exchanges’ common industry classification since April 2022, which is where the history here starts. Companies CDSL cannot classify are under “Others”.
Mutual funds. Net buying is worked out from each fund’s holdings: the change in the number of shares it held, valued at the month-end price. A rise in a share’s price is not buying, so it does not count. Splits and bonuses, which change a share count without any trade, are recognised and taken out. Only Indian companies count, and only funds that disclosed both months, so a fund appearing in the data is not counted as a purchase.
Coverage. The fund side covers the active equity funds on this site, and that coverage has grown over time. That is why the chart compares each side’s buying as a percent of its own holdings, not in rupees. Months with fewer than 80% of funds matched are marked in the table.
Not the same as the daily FII/DII figures. Exchanges’ evening FII/DII figures are provisional trading data for one exchange. The depository figures here are settled and cover every route into a company, including IPOs and placements, so the two never match exactly.
See also what mutual funds bought and sold, stock by stock.