Quant - The Outlanders report from Mannat Gandhi, Database Analyst, Institutional Research, PL Capital
Quick Pointers
* Sectoral FII/FPI sentiment improved sharply in Jul’26, with total flows reversing from an outflow of INR539.1bn in Jun’26 to an inflow of INR136.1bn.
* Inflows were led by Consumer Services (INR73.6bn), Metals & Mining (INR59.9bn), Healthcare (INR41.0bn), Services (INR24.1bn), Consumer Durables (INR23.8bn) and Realty (INR20.7bn).
Over Jan'26-Jul'26, sectoral flows remained highly selective, with Metals & Mining and Capital Goods emerging as key beneficiaries of foreign inflows, while Financial Services, IT, FMCG and Auto Components faced persistent selling. Jul'26 marked a sharp recovery in FII/FPI sentiment, with total flows turning positive at INR136.1bn against outflows of INR539.1bn in Jun'26. 11 out of the 18 sectors recorded net inflows, led by Consumer Services (INR73.6bn), Metals & Mining (INR59.9bn), Healthcare (INR41.0bn), Services (INR24.1bn), Consumer Durables (INR23.8bn) and Realty (INR20.7bn). Financial Services remained positive for the second consecutive month, recording inflows of INR19.8bn after INR33.7bn in Jun'26, indicating continued improvement in sentiment despite the quantum of inflows. However, FIs continued to reduce exposure to Automobile & Auto Components, Capital Goods, Telecommunication, Power and FMCG, which remained the key laggards during the month.
Automobile and Auto Components recorded FII/FPI outflows of INR69,360mn in Jul’26, compared to outflows of INR103,680mn in Jun’26 and outflows of INR35,840mn in Jul’25. These flows remain significantly below the LTA outflow of INR8,109mn.
Capital Goods recorded FII/FPI outflows of INR26,570mn in Jul’26, compared to outflows of INR40,280mn in Jun’26 and inflows of INR3,050mn in Jul’25. These flows remain below the LTA inflow of INR17,860mn.
Chemicals recorded FII/FPI outflows of INR1,140mn in Jul’26, compared to outflows of INR12,870mn in Jun’26 and inflows of INR11,290mn in Jul’25. These flows remain below the LTA inflow of INR1,678mn.
Construction Materials recorded FII/FPI inflows of INR15,740mn in Jul’26, compared to outflows of INR30,760mn in Jun’26 and inflows of INR3,290mn in Jul’25. These flows remain well above the LTA outflow of INR4,483mn.
Consumer Durables recorded FII/FPI inflows of INR23,840mn in Jul’26, compared to inflows of INR19,300mn in Jun’26 and outflows of INR26,140mn in Jul’25. These flows remain significantly above the LTA outflow of INR13,842mn.
Consumer Services recorded FII/FPI inflows of INR73,610mn in Jul’26, compared to inflows of INR12,290mn in Jun’26 and inflows of INR30,170mn in Jul’25. These flows remain well above the LTA outflow of INR18,043mn.
FMCG recorded FII/FPI outflows of INR11,060mn in Jul’26, compared to outflows of INR55,370mn in Jun’26 and inflows of INR15,580mn in Jul’25. These flows remain below the LTA outflow of INR31,108mn.
Financial Services recorded FII/FPI inflows of INR19,750mn in Jul’26, compared to inflows of INR33,710mn in Jun’26 and outflows of INR59,000mn in Jul’25. These flows remain above the LTA outflow of INR74,687mn.
Healthcare recorded FII/FPI inflows of INR41,010mn in Jul’26, compared to outflows of INR30,660mn in Jun’26 and outflows of INR570mn in Jul’25. These flows remain well above the LTA outflow of INR27,085mn.
IT recorded FII/FPI inflows of INR600mn in Jul’26, compared to outflows of INR74,660mn in Jun’26 and outflows of INR199,010mn in Jul’25. These flows remain above the LTA outflow of INR57,766mn.
Media, Entertainment & Publication recorded FII/FPI outflows of INR2,890mn in Jul’26, compared to outflows of INR3,590mn in Jun’26 and outflows of INR1,970mn in Jul’25. These flows remain below the LTA outflow of INR1,171mn.
Metals & Mining recorded FII/FPI inflows of INR59,930mn in Jul’26, compared to outflows of INR90,930mn in Jun’26 and inflows of INR33,650mn in Jul’25. These flows remain significantly above the LTA inflow of INR17,572mn.
Oil, Gas & Consumable Fuels recorded FII/FPI inflows of INR2,580mn in Jul’26, compared to outflows of INR132,770mn in Jun’26 and outflows of INR32,720mn in Jul’25. These flows remain above the LTA inflow of INR1,987mn.
Power recorded FII/FPI outflows of INR12,670mn in Jul’26, compared to outflows of INR63,200mn in Jun’26 and inflows of INR620mn in Jul’25. These flows remain below the LTA outflow of INR13,510mn.
Realty recorded FII/FPI inflows of INR20,720mn in Jul’26, compared to inflows of INR8,000mn in Jun’26 and outflows of INR39,330mn in Jul’25. These flows remain significantly above the LTA outflow of INR13,397mn.
Services recorded FII/FPI inflows of INR24,050mn in Jul’26, compared to inflows of INR28,940mn in Jun’26 and inflows of INR34,570mn in Jul’25. These flows remain above the LTA inflow of INR11,849mn.
Telecommunication recorded FII/FPI outflows of INR24,540mn in Jul’26, compared to outflows of INR3,470mn in Jun’26 and inflows of INR14,730mn in Jul’25. These flows remain below the LTA inflow of INR14,652mn.
Textiles recorded FII/FPI inflows of INR2,480mn in Jul’26, compared to inflows of INR950mn in Jun’26 and inflows of INR2,760mn in Jul’25. These flows remain above the LTA outflow of INR1,434mn.
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