India • Capital flows
India — Foreign vs Mutual Fund Equity Flows
Last update: 15 Oct 2026
Mutual funds were net buyers of ₹53,887 crore of Indian equities on stock exchanges in September 2026, while foreign portfolio investors were net sellers of ₹35,861 crore. In fiscal 2026-27 to September, funds bought a net ₹2.64 lakh crore against FPI net sales of ₹1.29 lakh crore.
Over those months, net debt investment was a purchase of ₹43,926 crore and matched 34 per cent of the net equity sale. NSDL's total across every reported security was a fall of ₹88,620 crore, the change in securities held. Since January 2015, FPIs were net sellers in 64 of 141 months; mutual funds were net buyers in 62 of those.
Part of the research India’s mutual fund industry. These are the funds' own purchases and sales of shares; the savings that pay for them are on the mutual fund flows topic. The section below starts from foreign investors' gross share sales and follows them into shares bought back, debt and other Indian securities, and what left their Indian holdings.
- FPI flowsSep 2026NSDL
- FPI month to dateto 12 Oct 2026NSDL, provisional
- Mutual fund tradesSep 2026SEBI
- Fund trades month to dateto 9 Oct 2026SEBI, provisional
- Database loaded16 Oct 2026Exalytics
+₹53,887 cr
Sep 2025: +₹41,123 cr
Sep 2026 · SEBI
FPI net equity investment
ProvisionalMutual funds, this month so far
ProvisionalFPIs, this month so far
ProvisionalFiscal 2026-27 so far
ProvisionalFeatured
Net equity purchases by mutual funds and foreign investors, by month
Mutual funds' net purchases of shares on stock exchanges beside foreign portfolio investors' net equity investment. Bars above zero are net purchases; bars below zero are net sales.
For example: If foreign investors sell ₹20,000 crore more Indian shares than they buy in a month and mutual funds buy ₹25,000 crore more than they sell, the foreign bar is −₹20,000 crore and the mutual fund bar +₹25,000 crore.
Includes provisional data
₹ crore / lakh crore
- Mutual funds' net purchases
- FPI net investment
1 · Foreign equity sales and reinvestment
Foreign equity sales: reinvestment across securities and net outflow
Over fiscal 2022-23 to 2026-27, foreign portfolio investors sold ₹156.22 lakh cr of shares on the stock exchanges and bought back ₹150.39 lakh cr. Of every ₹100 they sold, ₹96.3 went back into Indian shares on the exchanges, ₹2.0 into shares through issues and other routes, and ₹2.2 into debt, hybrid instruments and fund units. Their holdings of Indian securities grew by ₹76,836 cr: they put in more than they sold.
Taxes on the sales are not reported. Whether the money that left was converted and sent abroad is portfolio investment in the quarterly balance of payments.
Gross sales
Allocation of foreign investors' gross share sales
Foreign investors' gross sales of shares on the stock exchanges over the selected period, and what they became: shares bought back on the exchanges, shares bought through issues and other routes, net purchases of debt, hybrid instruments and fund units, and what left their holdings of the securities NSDL reports. Each step also reads per 100 sold. Green kept money in Indian securities; red added to what left. A last bar below zero means they put more into Indian securities than they sold.
For example: If foreign investors sell ₹1,000 crore of shares on the exchanges, buy back ₹850 crore and put ₹50 crore into debt, ₹100 crore left their Indian holdings: ₹10 of every ₹100 sold.
Includes provisional data
Sold on the stock exchangesGross share sales
₹156.22 lakh cr
Bought back on the exchangesGross share purchases · ₹96.3 of every ₹100 sold
−₹150.39 lakh cr
Bought through issues and other routes₹2.0 of every ₹100 sold
−₹3.17 lakh cr
Moved into debt₹2.1 of every ₹100 sold
−₹3.28 lakh cr
Hybrid instruments (REITs, InvITs)₹0.1 of every ₹100 sold
−₹12,131 cr
Mutual-fund units and AIFs₹0.0 of every ₹100 sold
−₹3,320 cr
Foreign holdings grew₹76,836 cr more held in Indian securities
−₹76,836 cr
Gross sales
Gross share sales and what left foreign holdings, month by month
Foreign investors' gross sales and gross purchases of shares on the stock exchanges, beside their net equity investment and the change in every security NSDL reports. Sales and purchases are nearly the same size: the small gap between them is the net. A navy bar below zero is the fall in foreign holdings: the part of the sales that was not put back into Indian securities. Hover a bar for that part as a share of gross sales.
For example: A month with ₹35,000 crore of gross sales, a net equity sale of ₹4,000 crore and ₹1,500 crore of net debt purchases shows foreign holdings ₹2,500 crore lower: 7% of the gross sales.
Includes provisional data
₹ crore / lakh crore
- Gross share sales
- Gross share purchases
- Net equity investment
- Change in all securities
By sector
Foreign net equity investment by sector
Foreign portfolio investors' net equity investment in each sector over the selected period, from NSDL's sector reports. Red: sectors they sold on net; green: sectors they bought. Within a sector, selling one company and buying another cancel out, because NSDL does not publish sector purchases and sales separately. Holdings are NSDL's assets under custody at market value; the price change is the part of the change in holdings that net investment does not explain. Open a sector for the companies whose foreign ownership changed most.
For example: If foreign investors hold ₹10 lakh crore of financial shares, sell a net ₹20,000 crore and prices rise about 5%, holdings end near ₹10.3 lakh crore: −₹20,000 crore from selling and about +₹50,000 crore from prices.
Includes provisional data
Sector
SoldBought
Net
Holdings before → after
Price change
−₹1.53 lakh cr
— → ₹20.01 lakh cr
—
Change in the share of each company held by foreign portfolio investors, Jun 2024 to Jun 2026 (quarter-ends, from the shareholding patterns companies file with NSE; today's Nifty 500 companies). Ranked by percentage points. The rupee figure is an estimate: the change × the company's market value.
Foreign ownership fell most
- RBL Bank Ltd.RBLBANK · 28.5% → 8.8% −19.69 pts≈ −₹3,402 cr
- Aavas Financiers Ltd.AAVAS · 35.9% → 16.3% −19.60 pts≈ −₹2,457 cr
- Shriram Finance Ltd.SHRIRAMFIN · 54.3% → 34.7% −19.53 pts≈ −₹34,400 cr
- PB Fintech Ltd.POLICYBZR · 46.0% → 30.7% −15.33 pts≈ −₹12,154 cr
- Computer Age Management Services Ltd.CAMS · 56.5% → 44.9% −11.63 pts≈ −₹2,293 cr
Foreign ownership rose most
- Home First Finance Company India Ltd.HOMEFIRST · 24.7% → 43.9% +19.21 pts≈ +₹2,079 cr
- Nuvama Wealth Management Ltd.NUVAMA · 6.7% → 19.0% +12.27 pts≈ +₹2,773 cr
- 360 ONE WAM Ltd.360ONE · 18.6% → 30.3% +11.69 pts≈ +₹4,986 cr
- Capri Global Capital Ltd.CGCL · 1.0% → 8.2% +7.19 pts≈ +₹1,209 cr
- Aptus Value Housing Finance India Ltd.APTUS · 22.8% → 30.0% +7.14 pts≈ +₹1,201 cr
−₹1.38 lakh cr
— → ₹3.59 lakh cr
—
−₹1.27 lakh cr
— → ₹4.28 lakh cr
—
−₹70,290 cr
— → ₹2.75 lakh cr
—
−₹36,300 cr
— → ₹2.43 lakh cr
—
−₹32,014 cr
— → ₹4.98 lakh cr
—
−₹19,050 cr
— → ₹1.82 lakh cr
—
−₹18,847 cr
— → ₹98,084 cr
—
−₹12,074 cr
— → ₹1.17 lakh cr
—
−₹8,965 cr
— → ₹10,616 cr
—
−₹1,420 cr
— → ₹3,608 cr
—
−₹57 cr
— → ₹21,611 cr
—
Utilities
+₹755 cr
— → ₹2,971 cr
—
Forest Materials
+₹1,331 cr
— → ₹1,244 cr
—
+₹2,098 cr
— → ₹1.16 lakh cr
—
+₹9,753 cr
— → ₹1.20 lakh cr
—
+₹11,740 cr
— → ₹2.84 lakh cr
—
+₹27,199 cr
— → ₹5.28 lakh cr
—
+₹34,519 cr
— → ₹2.90 lakh cr
—
+₹36,102 cr
— → ₹1.92 lakh cr
—
+₹50,187 cr
— → ₹3.32 lakh cr
—
Others
+₹78,874 cr
— → ₹28,931 cr
—
+₹96,888 cr
— → ₹4.88 lakh cr
—
Apr 2022 to Sep 2026, 54 months: sectors sold on net ₹6.16 lakh cr and sectors bought on net ₹3.49 lakh cr; together −₹2.66 lakh cr, NSDL's net equity figure for those months. Open a sector to see the companies whose foreign ownership fell and rose most: quarterly, from company filings, so it shows ownership, not each month's trades.
Over fiscal 2022-23 to 2026-27, foreign portfolio investors sold a net ₹2.66 lakh cr of Indian equities. Net debt investment was +₹3.28 lakh cr, and 100 per cent of that equity sale lines up with net debt purchases in the same period (₹2.66 lakh cr). Hybrid instruments line up with 0 per cent (₹0 cr). Mutual-fund units and AIFs line up with 0 per cent (₹0 cr). ₹0 cr of the equity sale has no matching net purchase of another security NSDL reports. The whole reported book changed by +₹76,836 cr.
In the 28 months of net equity selling (₹9.16 lakh cr sold), debt bought in that same month lines up with 18 per cent. Hybrid instruments line up with 1 per cent, and fund units and AIFs with 0 per cent. ₹7.42 lakh cr has no match in the month of the sale. A debt purchase in one month and an equity sale in another are paired in the period above and kept apart in this count.
Reported book
Foreign investment by security
Net investment in equities, debt, hybrid instruments (REITs and InvITs) and mutual-fund units plus AIFs. The line is NSDL's own total for every security it reports. A month whose parts miss that total is left blank.
For example: Equity sales of ₹20,000 crore and debt purchases of ₹5,000 crore in one month, with nothing in the other columns, leave the reported book ₹15,000 crore smaller.
Includes provisional data
₹ crore / lakh crore
- Equity
- Debt
- Hybrid
- Fund units and AIFs
- All securities
Equity sales
Same-month use of a foreign equity sale
Every month on one baseline. A month of net equity buying is one bar above zero. A month of net equity selling is drawn below zero, split by what lined up with net purchases that same month: debt first, then hybrid instruments, then mutual-fund units and AIFs, each taking only a positive net and only what remains of the sale; the rest had no matching purchase. By fiscal year, the months are added up.
For example: A month with an equity sale of ₹10,000 crore and net debt investment of ₹4,000 crore shows ₹4,000 crore lined up with debt and ₹6,000 crore with no matching purchase of another reported security.
Includes provisional data
₹ crore / lakh crore
- Net equity purchase
- Sale lined up with debt
- Sale lined up with hybrid
- Sale lined up with fund units and AIFs
- Sale with no matching purchase
Not measured in this snapshot
- Which companies were sold or bought. NSDL's gross purchases and sales cover all shares together, so they show how much was bought back but not which companies changed hands.
- Taxes paid on the sales. They are not reported for foreign investors.
- Which index foreign investors sold or bought. NSDL reports sectors, not indices, and within a sector only the net.
- Each company's foreign purchases and sales. Companies report only who owns their shares at each quarter-end, so the drill-down shows the change in ownership; an issue or buyback of shares also moves it.
- Whether the rupees were converted and sent abroad. A fall in the reported book is a smaller holding of the securities NSDL reports. The cash can remain with the custodian. The cross-border record is portfolio investment in the balance of payments, on foreign-exchange reserves and the balance of payments.
Month-by-month calculations
Period offset. Net equity sale = −(equity net) when equity net is negative. Net purchases of debt, then hybrid instruments, then mutual-fund units and AIFs, absorb that sale in that order. Each absorbs only a positive net, and only what remains of the sale. The remainder has no matching net purchase of another security NSDL reports.
Same-month offset. The same rule, one month at a time. A debt purchase in April and an equity sale in August meet in the period offset and stay apart here. A month is included when equity, the debt routes, hybrid instruments, fund units and AIFs that NSDL printed, and the total, agree within ₹5 crore.
| Month | Equity | Debt | Hybrid | Fund units and AIFs | All securities | Sale with no match |
|---|---|---|---|---|---|---|
| Sep 2026 | −₹35,861 cr | −₹20,727 cr | −₹2,078 cr | +₹222 cr | −₹58,443 cr | ₹35,639 cr |
| Aug 2026 | +₹29,631 cr | −₹1,457 cr | −₹2,663 cr | −₹19 cr | +₹25,492 cr | — |
| Jul 2026 | +₹20,200 cr | +₹18,661 cr | +₹166 cr | +₹1,004 cr | +₹40,031 cr | — |
| Jun 2026 | −₹49,340 cr | +₹55,518 cr | −₹1,363 cr | −₹147 cr | +₹4,669 cr | ₹0 cr |
| May 2026 | −₹32,963 cr | +₹2,757 cr | +₹985 cr | −₹262 cr | −₹29,484 cr | ₹29,221 cr |
| Apr 2026 | −₹60,847 cr | −₹10,826 cr | +₹444 cr | +₹345 cr | −₹70,885 cr | ₹60,058 cr |
| Mar 2026 | −₹1.18 lakh cr | −₹8,469 cr | +₹1,868 cr | −₹1,362 cr | −₹1.26 lakh cr | ₹1.16 lakh cr |
| Feb 2026 | +₹22,615 cr | +₹18,791 cr | −₹3,896 cr | +₹294 cr | +₹37,804 cr | — |
| Jan 2026 | −₹35,962 cr | +₹6,013 cr | +₹232 cr | +₹478 cr | −₹29,240 cr | ₹29,239 cr |
| Dec 2025 | −₹22,611 cr | −₹15,399 cr | −₹532 cr | −₹27 cr | −₹38,568 cr | ₹22,611 cr |
| Nov 2025 | −₹3,765 cr | +₹4,674 cr | +₹104 cr | +₹1,824 cr | +₹2,836 cr | ₹0 cr |
| Oct 2025 | +₹14,610 cr | +₹18,224 cr | +₹2,869 cr | −₹105 cr | +₹35,598 cr | — |
| Sep 2025 | −₹23,885 cr | +₹12,254 cr | +₹223 cr | −₹1,130 cr | −₹12,539 cr | ₹11,408 cr |
| Aug 2025 | −₹34,993 cr | +₹12,662 cr | +₹151 cr | +₹1,676 cr | −₹20,505 cr | ₹20,504 cr |
| Jul 2025 | −₹17,741 cr | +₹11,812 cr | −₹463 cr | +₹854 cr | −₹5,538 cr | ₹5,075 cr |
| Jun 2025 | +₹14,590 cr | −₹22,527 cr | +₹150 cr | +₹224 cr | −₹7,563 cr | — |
| May 2025 | +₹19,860 cr | +₹12,155 cr | −₹689 cr | −₹377 cr | +₹30,950 cr | — |
| Apr 2025 | +₹4,223 cr | −₹24,384 cr | −₹388 cr | +₹357 cr | −₹20,190 cr | — |
| Mar 2025 | −₹3,973 cr | +₹37,789 cr | −₹15 cr | −₹820 cr | +₹32,981 cr | ₹0 cr |
| Feb 2025 | −₹34,574 cr | +₹10,517 cr | −₹318 cr | +₹75 cr | −₹24,301 cr | ₹23,982 cr |
| Jan 2025 | −₹78,027 cr | +₹571 cr | +₹206 cr | +₹38 cr | −₹77,211 cr | ₹77,212 cr |
| Dec 2024 | +₹15,446 cr | +₹12,512 cr | −₹1,408 cr | −₹613 cr | +₹25,938 cr | — |
| Nov 2024 | −₹21,612 cr | −₹36 cr | −₹37 cr | +₹240 cr | −₹21,444 cr | ₹21,372 cr |
| Oct 2024 | −₹94,017 cr | −₹3,632 cr | +₹1,250 cr | +₹41 cr | −₹96,358 cr | ₹92,726 cr |
| Sep 2024 | +₹57,724 cr | +₹32,850 cr | +₹2,455 cr | +₹510 cr | +₹93,538 cr | — |
| Aug 2024 | +₹7,320 cr | +₹17,075 cr | +₹1,098 cr | ₹0 cr | +₹25,493 cr | — |
| Jul 2024 | +₹32,365 cr | +₹16,174 cr | +₹257 cr | ₹0 cr | +₹48,796 cr | — |
| Jun 2024 | +₹26,565 cr | +₹13,982 cr | +₹1,211 cr | ₹0 cr | +₹41,757 cr | — |
| May 2024 | −₹25,586 cr | +₹13,044 cr | −₹369 cr | ₹0 cr | −₹12,911 cr | ₹12,542 cr |
| Apr 2024 | −₹8,671 cr | −₹7,682 cr | +₹94 cr | ₹0 cr | −₹16,260 cr | ₹8,577 cr |
| Mar 2024 | +₹35,098 cr | +₹16,080 cr | +₹818 cr | ₹0 cr | +₹51,996 cr | — |
| Feb 2024 | +₹1,539 cr | +₹23,281 cr | +₹6,997 cr | ₹0 cr | +₹31,817 cr | — |
| Jan 2024 | −₹25,744 cr | +₹19,127 cr | +₹24 cr | ₹0 cr | −₹6,593 cr | ₹6,593 cr |
| Dec 2023 | +₹66,135 cr | +₹14,156 cr | +₹4,247 cr | ₹0 cr | +₹84,537 cr | — |
| Nov 2023 | +₹9,001 cr | +₹15,597 cr | −₹52 cr | ₹0 cr | +₹24,546 cr | — |
| Oct 2023 | −₹24,548 cr | +₹6,788 cr | −₹115 cr | ₹0 cr | −₹17,875 cr | ₹17,760 cr |
| Sep 2023 | −₹14,768 cr | +₹992 cr | −₹36 cr | ₹0 cr | −₹13,810 cr | ₹13,776 cr |
| Aug 2023 | +₹12,262 cr | +₹4,800 cr | +₹1,276 cr | ₹0 cr | +₹18,338 cr | — |
| Jul 2023 | +₹46,618 cr | +₹1,499 cr | −₹140 cr | ₹0 cr | +₹47,977 cr | — |
| Jun 2023 | +₹47,148 cr | +₹8,936 cr | +₹173 cr | ₹0 cr | +₹56,258 cr | — |
| May 2023 | +₹43,838 cr | +₹4,790 cr | −₹298 cr | ₹0 cr | +₹48,330 cr | — |
| Apr 2023 | +₹11,631 cr | +₹2,041 cr | −₹126 cr | ₹0 cr | +₹13,545 cr | — |
| Mar 2023 | +₹7,936 cr | −₹3,232 cr | +₹1,195 cr | ₹0 cr | +₹5,899 cr | — |
| Feb 2023 | −₹5,294 cr | +₹1,392 cr | −₹237 cr | ₹0 cr | −₹4,139 cr | ₹3,902 cr |
| Jan 2023 | −₹28,852 cr | +₹2,455 cr | −₹146 cr | ₹0 cr | −₹26,544 cr | ₹26,397 cr |
| Dec 2022 | +₹11,119 cr | −₹1,945 cr | −₹4 cr | ₹0 cr | +₹9,171 cr | — |
| Nov 2022 | +₹36,239 cr | −₹2,177 cr | −₹214 cr | ₹0 cr | +₹33,847 cr | — |
| Oct 2022 | −₹8 cr | −₹2,770 cr | −₹301 cr | ₹0 cr | −₹3,080 cr | ₹8 cr |
| Sep 2022 | −₹7,624 cr | +₹2,557 cr | +₹1,112 cr | ₹0 cr | −₹3,955 cr | ₹3,955 cr |
| Aug 2022 | +₹51,204 cr | +₹6,842 cr | −₹1,525 cr | ₹0 cr | +₹56,521 cr | — |
| Jul 2022 | +₹4,989 cr | −₹2,841 cr | −₹176 cr | ₹0 cr | +₹1,971 cr | — |
| Jun 2022 | −₹50,203 cr | −₹1,327 cr | +₹108 cr | ₹0 cr | −₹51,422 cr | ₹50,095 cr |
| May 2022 | −₹39,993 cr | +₹3,537 cr | −₹62 cr | ₹0 cr | −₹36,518 cr | ₹36,456 cr |
| Apr 2022 | −₹17,144 cr | −₹5,614 cr | +₹69 cr | ₹0 cr | −₹22,688 cr | ₹17,075 cr |
2 · Cumulative position
Cumulative flows and fund trading activity
Cumulative
Cumulative net equity purchases
Each line adds up the monthly net figures from the first month shown. When the lines move apart, one group has been selling shares that the other, together with companies, promoters and households, has been buying.
For example: Monthly net purchases of +₹10,000 crore, −₹4,000 crore and +₹6,000 crore give a running total of ₹12,000 crore after three months.
Includes provisional data
₹ crore / lakh crore
- Mutual funds, cumulative
- FPIs, cumulative
Fund turnover
Mutual funds' gross equity purchases and sales
Gross purchases above the line, gross sales below it, and net purchases between them. The gross figures show how much trading sits behind the net figure.
For example: Funds that buy ₹1.2 lakh crore of shares in a month and sell ₹1 lakh crore make net purchases of ₹20,000 crore.
Includes provisional data
₹ crore / lakh crore
- Gross purchases
- Gross sales
- Net purchases
3 · Debt markets
Debt investment by foreign investors and mutual funds
FPI debt
Foreign portfolio investment in Indian debt, by route
Net foreign portfolio investment in Indian bonds through each regulatory route: the general limit, the voluntary retention route (VRR, for investors who commit to stay invested for a minimum period) and the fully accessible route (FAR, specified government bonds with no foreign-ownership limit).
For example: A foreign pension fund that buys Indian government bonds included in the FAR list, with no cap on foreign holdings, invests through FAR.
Includes provisional data
₹ crore / lakh crore
- General limit
- Voluntary retention route
- Fully accessible route
Fund debt trades
Mutual funds' net debt purchases on exchanges
Net purchases of bonds and other debt securities by mutual funds through stock exchanges, from SEBI's custodian reports.
For example: If funds buy ₹8,000 crore of corporate bonds on the exchanges in a month and sell ₹5,000 crore, net debt purchases are ₹3,000 crore.
Includes provisional data
₹ crore / lakh crore
- Net debt purchases
Sources
Publishers in this snapshot
- NSE, quarterly shareholding patterns filed by listed companies (XBRL) ↗4,206 observations · Apr 2024 – Jun 2026 · some provisional, verified
- Exalytics calculation from NSE shareholding patterns and NSE market values ↗3,647 observations · Jul 2024 – Jun 2026 · some estimated
- NSDL FPI Monitor, fortnightly sector-wise FPI investment data ↗2,592 observations · Apr 2022 – Sep 2026 · some provisional, verified
- SEBI, transactions on stock exchanges by mutual funds (custodian reports) ↗852 observations · Jan 2015 – Oct 2026 · some provisional, verified
- NSDL FPI Monitor, monthly FPI net investment ↗815 observations · Jan 2015 – Oct 2026 · some provisional, verified
- NSDL FPI Monitor, daily trends in FPI investments (archive) ↗282 observations · Jan 2015 – Sep 2026 · some provisional, verified
Snapshot
Citation and snapshot details
Dataset india-institutional-flows-2026-09-20261015-7f0e7161, refresh 21480096-58fe-5af7-b65b-98a91b9816da, published 15 Oct 2026,
loaded into the database 16 Oct 2026. Every chart's table, CSV and Copy for AI carry each observation's Id,
status and source page.
Methodology and definitions
Two different measurements
FPI figures are NSDL's net investment by foreign portfolio investors, compiled from custodian reports and including primary-market investment such as share sales by companies. Mutual fund figures are SEBI's daily custodian reports of the funds' trades on stock exchanges, summed to months here. Neither side is a complete count of who bought what.
Not the same as investor flows
A fund can receive subscriptions and hold cash, or meet redemptions by selling shares. The funds' trades are therefore related to, but not equal to, the subscriptions and redemptions AMFI reports.
Months and revisions
Complete calendar months only; the current month appears in the headline cards as month to date, marked provisional. SEBI labels its daily table provisional and subject to revision, so the two latest complete months are also marked provisional.
Currency
Positive values are net purchases, negative values net sales, in INR crore as published. FPI figures are NSDL's (custodian reports), with NSDL's own US-dollar figures; mutual fund figures are the sum of SEBI's daily custodian-reported trades on stock exchanges, converted to US dollars at the IMF monthly average rate. Mutual fund trades are the funds' own security purchases and sales, not investor subscriptions.
Allocation of an equity sale
The equity-sale reading sets a net equity sale beside net investment in debt, hybrid instruments, and mutual-fund units and AIFs, in that order. It is the two sets of published nets over the same months. A debt purchase and an equity sale in different months are paired in the period figure and kept apart in the same-month chart. Months whose parts differ from NSDL's total by more than ₹5 crore are left out.
Not measured here
Which companies foreign investors sold or bought: the equity figure nets all of those trades, and this monitor has no gross purchases and sales. Whether the rupees were converted and remitted: NSDL reports the securities, and the balance of payments reports the border. Also absent: purchases by insurance companies, banks and pension funds, individual investors' direct trades, promoter sales, and the prices at which shares changed hands.
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