India's investor base tops 130 million, but only one in 10 trade

Several factors have contributed to the moderation. Indian equities have delivered modest returns so far in 2026, while foreign portfolio investors (FPIs) have remained net sellers for much of the year. Global uncertainties, including geopolitical tensions, volatile crude oil prices and tariff-related concerns, have also kept investors cautious. At the same time, IPO activity has slowed sharply after a record FY26.