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In Mar’25 both FIIs and DIIs were net buyers in the Indian equity market (with buying of USD 975mn and USD 4.3bn respectively). In the first half of March, i.e. until 19th March, FIIs were net sellers, offloading equities to the tune of USD 2.6bn. However, they turned net buyers post that, buying Indian equities worth USD 3.6bn. Sectors which witnessed the highest inflows included BFSI (USD 1.7bn), telecom (USD 360mn), and metals (USD 219mn), while those which saw the highest outflows included IT (USD 973mn), FMCG (USD 643mn), Oil and Gas (USD 397mn) and autos (USD 327mn).

* Mar’25 was a tale of two halves: In Mar’25 both FIIs and DIIs were net buyers in the Indian equity market (with buying of USD 975mn and USD 4.3bn respectively). In the first half of March, i.e. until 19th March, FIIs were net sellers, offloading equities worth USD 2.6bn. However, they turned net buyers post that, buying Indian equities worth USD 3.6bn. FII shareholding in Indian equities inched up to 16.8% from 15.9% MoM

* IT, FMCG, Oil & Gas saw the largest FII outflows: Sectors that saw the highest outflows included IT (USD 973mn), FMCG (USD 643mn), Oil and Gas (for the 7 th consecutive month, USD 397mn) and autos (for 8th consecutive month, USD 327mn)

* BFSI, telecom, metals saw FII inflows: Sectors which witnessed inflows included BFSI (USD 1.7bn), telecom (USD 360mn), and metals (USD 219mn). Other sectors which saw inflows, although a smaller quantum included Realty (USD 68mn), Chemicals (USD 57mn), Media (USD 51mn) and Pharma (USD 15mn).

* FII shareholding in BFSI and Pharma rises: BFSI, IT, Oil & Gas, Auto and Pharma remained the top 5 sectors wherein FIIs held equities in India, adding up to ~60% of FII holdings in India. As a % of FII AUC in India, the share of BFSI rose marginally to 31.2% from 30.8% in Feb’25, while that of Pharma rose from 6.8% to 6.9%. IT services (the second largest) saw a sequential dip from 9.9% to 9% owing to geopolitical uncertainties, followed by autos at 6.7% (vs. 7% MoM). Oil & Gas saw no change.

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