New Delhi, Feb. 20 -- Foreign portfolio investors (FPIs), once a formidable force on Dalal Street, have seen their clout lessen against the backdrop of the massive selling over the last two years. At the same time, domestic institutions and retail investors have stepped in to absorb the flows.

According to a recent Mint analysis, the ownership of FPIs in companies listed on the National Stock Exchange (NSE) shrank to a 15.5-year low of 16.7% in the quarter ended December. At the same time, domestic mutual funds' stake rose to a record high of 11.1%.

According to Pranav Haldea, Managing Director, PRIME Database Group, the balance of ownership in Indian equities is tilting inward, reinforcing the market's growing atmanirbharta (self-relia...