Foreign portfolio investors (FPIs) continued to be net sellers in Indian stocks in January 2026, offloading approximately Rs 11,789 crore. This trend follows a record outflow in 2025. Key factors contributing to this caution include US tariff threats over India's purchase of Russian oil, increased global geopolitical tensions, a weakening Indian rupee against the US dollar, and uncertainty surrounding US Federal Reserve interest rate policies. These factors collectively create a risk-averse environment for foreign investors.