India's financials account for 40% of total foreign outflows in April first half

ICICI Bank

22/04/2026 06:55

** Foreign portfolio investors sell 191.52 billion indian rupees ($2.04 billion) worth of Indian financials in first half of April, about 40% of total outflows

** Sustained selling follows record March outflows in sector after Iran conflict dampened domestic economic, corporate earnings outlooks

** Analysts expect some financials flow reversal after steady ICICI Bank ICBK.NS, HDFC Bank HDBK.NS results and RBI's partial forex curb rollback, but overall FPI exodus likely to persist

** "Moderation in crude prices, a more supportive global rate environment, steady corporate earnings are required to realistically rebuild foreign investors' confidence" - Tarun Singh, MD of Highbrow Securities

** Nifty Bank index .NSEBANK up 12% vs Nifty 50's 8.5% rise in period, as markets rebounded on U.S.-Iran peace talks

($1 = 93.7625 Indian rupees)

India's financials continue to see FPI outflows since the start of Iran war https://reut.rs/4czgPxv

What FPIs sold in Indian markets in the first half of April https://reut.rs/4sSy8yr

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))