In the first two trading sessions of April, Foreign Portfolio Investors (FPIs) withdrew ₹19,837 crore (approximately $2.1 billion) from Indian equities, continuing a trend of significant outflows. This follows a record withdrawal of ₹1.17 trillion (about $12.7 billion) in March, marking the worst monthly outflow for Indian markets. The ongoing conflict in West Asia, rising crude oil prices, and persistent depreciation of the Indian rupee have contributed to this selling pressure. The rupee has depreciated by about 4% since the start of the conflict, raising concerns among investors. Analysts suggest that elevated US bond yields are making fixed-income assets more attractive, prompting a shift away from equities. Despite the current selling trend, some market segments are viewed as attractive, with hopes for FPI inflows contingent on geopolitical stability and a decline in crude oil prices.