Global investors flip bullish in October: FPIs pump $1.6 billion into Indian equities led by France, US, Germany

Foreign portfolio investors staged a strong comeback to Indian markets in October after three straight months of outflows, led by robust buying from France, the US and Germany across equities and debt.

NSDL data showed foreign institutional investors pumped more than $1.66 billion into equities during the month — the first positive flow since June 2025 — compared with outflows of $2.7 billion in September.

France emerged as the biggest contributor, investing $2.58 billion in equities and nearly $152 million in debt. The US and Germany followed with almost $520 million each in equities, while adding about $765 million and $309 million respectively to debt instruments.

Ireland and Malaysia also turned buyers, bringing in $400 million and $342 million into equities, along with $138 million and $68 million in debt. Hong Kong invested $177 million in equities, while Denmark and Norway deployed around $100 million each.

Singapore logged an equity outflow of $98 million but offset it with more than $260 million in debt purchases. Other countries collectively sold over $3 billion in October, the data showed.

The renewed foreign flows coincided with a strong market rally. The Sensex and Nifty gained 4.5 percent each in October, while the BSE MidCap index advanced 4.7 percent and the BSE SmallCap index rose 3.22 percent.

In September, Germany had been the largest investor with $1.47 billion in Indian equities and $72 million in debt, followed by Ireland, which put in $341 million in equities and $97 million in debt. Denmark and Sweden were net buyers, investing $130 million and $114 million in equities respectively.

The Netherlands sold $77 million in equities while buying $254 million in debt, and Japan invested $57 million in equities and $348 million in debt. Other countries sold $4.8 billion in equities while purchasing $132 million in debt during September, according to NSDL data.

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