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Foreign fund holdings in India slip to 15-year low amid domestic investor surge
Foreign investor holdings in Indian equities fall to ~16.
As of November 2025, foreign portfolio investors’ stake in Indian listed companies has fallen to approximately 16.9 %, the lowest level in over 15 years. At the same time, domestic mutual-fund ownership has climbed to a record high of 10.9 % of listed-company equity, led by strong SIP flows and DII buying.
The shift underscores changing ownership dynamics in India’s equity markets and raises questions about sustainability of foreign inflows. (NSE data) Given the relative withdrawal of FPIs, market liquidity and sector rotation may increasingly be driven by domestic investors and may alter equity-market leadership into FY27.