Report on Quants by Mannat Gandhi – Database Analyst, PL Capital
Monthly sector-wise FPI/FII flows
* Aggregate analysis: Since Jul’25, only Oct’25 witnessed net FII inflow. Jan’26 in fact, witnessed sharpest outflow of Rs333bn since Aug’25. FMCG, healthcare and consumer services saw highest outflows in Jan’26. IT is another sector that has been broadly experiencing outflows since Apr’25 except for minor inflows in Jun’25 and Dec’25. Metals & Mining has witnessed sharpest inflow of Rs115.3bn in Jan’26.
* Automobile and Auto Components sector recorded sharp FII/FPI outflows of Rs58,230mn in Jan’25, followed by outflows of Rs20,450mn in Dec’25. The trend continued into Jan’26 with further outflows of Rs35,940mn. These outflows remain below the long?term average inflow of Rs641mn.
* Capital Goods sector witnessed FII/FPI outflows of Rs56,970mn in Jan’25, followed by outflows of Rs25,660mn in Dec’25. The trend reversed in Jan’26 with inflows of Rs27,610mn. These flows remain below the long-term average inflow of Rs18,342mn.
* Chemicals sector recorded FII/FPI inflows of Rs3,550mn in Jan’25, followed by marginal outflows of Rs480mn in Dec’25. Inflows continued in Jan’26 at Rs1,400mn. These flows remain broadly aligned with the long-term average of Rs2,316mn.
* Construction Materials sector saw continued FII/FPI outflows of Rs20,700mn in Jan’25 and Rs16,740mn in Dec’25. Outflows moderated to Rs8,570mn in Jan’26 but remain significantly below the long-term average outflow of Rs2,480mn.
* Consumer Durables sector saw sharp FII/FPI outflows of Rs38,000mn in Jan’25, followed by inflows of Rs5,990mn in Dec’25. The trend reversed again in Jan’26 with outflows of Rs10,500mn. These flows remain weaker than the long-term average outflow of Rs5,496mn.
* Consumer Services sector recorded heavy FII/FPI outflows of Rs83,470mn in Jan’25, followed by inflows of Rs33,400mn in Dec’25. However, Jan’26 saw renewed outflows of Rs55,130mn. These flows remain far below the long-term average inflow of Rs6,178mn.
* FMCG sector continued to witness persistent FII/FPI outflows, with Rs54,280mn exiting in Jan’25 and Rs58,440mn in Dec’25. Outflows intensified to Rs74,970mn in Jan’26. These flows remain significantly below the long-term average outflow of Rs9,798mn.
* Financial Services sector saw substantial FII/FPI outflows of Rs249,490mn in Jan’25 and Rs105,250mn in Dec’25. Outflows moderated to Rs85,920mn in Jan’26 but remain well below the long-term average outflow of Rs10,593mn.
* Healthcare sector recorded FII/FPI outflows of Rs43,720mn in Jan’25, followed by outflows of Rs29,940mn in Dec’25. Outflows intensified to Rs61,620mn in Jan’26. These flows remain significantly below the long-term average inflow of Rs5,680mn.
* Information Technology sector saw outflows of Rs64,710mn in Jan’25, followed by inflows of Rs11,260mn in Dec’25. Jan’26 again recorded outflows of Rs18,350mn. These flows remain weaker than the long-term average outflow of Rs24,315mn.
* Media, Entertainment & Publication sector recorded inflows of Rs1,800mn in Jan’25, followed by outflows of Rs3,200mn in Dec’25. Outflows continued at Rs1,780mn in Jan’26, broadly in line with the long-term average outflow of Rs1,754mn.
* Metals & Mining sector saw outflows of Rs23,820mn in Jan’25, reversing into inflows of Rs29,840mn in Dec’25. Inflows surged to Rs115,260mn in Jan’26, well above the long-term average of Rs1,457mn.
* Oil, Gas & Consumable Fuels sector recorded outflows of Rs15,720mn in Jan’25, followed by inflows of Rs23,560mn in Dec’25. Jan’26 saw renewed outflows of Rs9,400mn. These flows remain better than the long-term average outflow of Rs19,553mn.
* Power sector continued to see FII/FPI outflows of Rs41,980mn in Jan’25 and Rs27,530mn in Dec’25. Outflows eased to Rs18,670mn in Jan’26 but remain well below the long-term average outflow of Rs7,064mn.
* Realty sector recorded outflows of Rs10,020mn in Jan’25 and Rs9,410mn in Dec’25. Outflows rose sharply to Rs26,550mn in Jan’26. These flows remain materially below the long-term average inflow of Rs1,592mn.
* Services sector saw outflows of Rs15,930mn in Jan’25, which widened to Rs42,780mn in Dec’25. Outflows moderated to Rs19,710mn in Jan’26 but remain weaker than the long-term average inflow of Rs4,685mn.
* Telecommunication sector recorded inflows of Rs1,440mn in Jan’25 and Rs2,340mn in Dec’25. However, Jan’26 saw sharp outflows of Rs47,770mn. These flows remain significantly below the long-term average inflow of Rs16,729mn.
*Textiles sector saw inflows of Rs6,020mn in Jan’25, followed by outflows of Rs5,370mn in Dec’25. Outflows moderated to Rs2,750mn in Jan’26, broadly below the long-term average outflow of Rs83mn.
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