Despite sustained selling in Indian equities since October, foreign portfolio investors (FPIs) have continued to selectively accumulate stocks with strong fundamentals. In the January–March quarter, nearly 30 stocks—largely among the mid-cap and large-cap segments—witnessed an increase in FPI holdings for the fourth straight quarter.

This marks a clear shift in FPI behavior, from broad-based buying to selective stock picking, even as total net outflows from FPIs stood at Rs 1.25 lakh crore for FY25. The data, compiled by ET Bureau, underlines the conviction of foreign investors in the specific plays despite a bearish broader market stance: