New Delhi, Nov. 6 -- A quiet power shift is reshaping India's equity market - for six straight quarters, domestic institutions have held a larger share of listed stocks than foreign investors, marking the first sustained reversal in decades and signalling a market now driven by local money.

Data from CMIE covering over 4,000 listed companies shows that the value-based share of domestic institutional investors (DIIs) in Indian equities reached a record 18.4% in the September 2025 quarter, up from 18% in the previous quarter and 16.7% a year earlier. This marks the sixth consecutive quarter, since March 2024, that DIIs have maintained a clear lead over foreign portfolio investors (FPIs).

DIIs include mutual funds, financial institutions, ...