New Delhi, March 5 -- A $15 billion withdrawal by foreign portfolio investors (FPIs)-2025's largest outflow among emerging economies-has sent Indian markets into a tizzy.

Dalal Street is on the edge, with the Nifty 50 down by 7% since January. But the bleeding doesn't stop there: The number of registered FPIs declined by 32 to 11,729 in January from 11,761 in December, according to the Securities and Exchange Board of India's (Sebi) latest data-the first monthly drop in a year. This contrasts sharply with December's addition of 91 new FPIs and the 11-month average of 52 new registrations. Interestingly, even during October's record Rs.94,017 crore FPI outflow, their count increased by 65.

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