MUMBAI, Nov. 13 -- Promoters are returning to the buy side of India's equity market after years of selling, even as foreign investors pare their holdings to a 14-year low. Could this shift signal that company insiders are finding value in stocks that foreign investors are exiting, and point to a broader market recovery?

Private promoters held 41.93% of companies listed on the National Stock Exchange (NSE) at the end of the September 2026 quarter, their highest ownership since June 2023, when it stood at 42.16%, according to Prime Database. The last time it was significantly higher was September 2020, at 45.34%. The Nifty 50 went on to rally 57% over the following 12 months.

Promoters did cash out between 2021 and early 2026. Shashank Ud...