January Fortnight Review: DIIs Hold Firm, MFs Stay Active as FPIs Sell Equities Despite Debt Buying
FPI Selling Concentrated in FMCG, Financials and IT – On the sell side, FPIs saw the sharpest outflows from FMCG (₹6,128 Cr), indicating meaningful risk reduction in defensives. Selling was also pronounced in Financial Services (₹3,190 Cr) and Information Technology (₹2,075 Cr), alongside continued trimming in Consumer Services (₹1,952 Cr) and Services (₹1,587 Cr). Additional pressure was visible in Telecommunication (₹1,497 Cr), Healthcare (₹1,049 Cr) and Realty (₹699 Cr).
Selective FPI Buying Led by Metals & Mining – FPIs remained selective buyers in the first half of January, with Metals & Mining (₹2,689 Cr) dominating inflows. Incremental buying was also seen in Capital Goods (₹326 Cr) and Consumer Durables (₹322 Cr), while Chemicals (₹69 Cr) attracted limited interest.
FPIs Continue Equity Selling in the First Half of January – Foreign Portfolio Investors (FPIs) were net sellers in Indian equities across the first half of January 2026, barring two sessions, with total equity outflows of ₹19,015 Cr — indicating continued caution on risk assets at the start of the calendar year.
Debt Flows Stay Positive – In contrast to equity, FPIs recorded net debt inflows of ₹2,233 Cr in the same fortnight, suggesting a selective preference for fixed income even as equity positioning stayed negative.
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