In just over three months, they have pulled $18.84 billion from local shares, edging past the full-year record outflow of $18.79 billion seen in 2025, according Central Depository Services India Ltd. The sustained selling has kept markets under pressure, and even a modest rebound following a temporary ceasefire earlier this week has done little to lift the mood. Local shares remain bruised, with over $600 billion wiped off their value from last year’s peak.