New Delhi, May 25 -- Lacklustre corporate earnings growth and a steeply depreciating currency have eroded foreign portfolio investor (FPI) returns over the last year, driving them out of Indian markets, a trend likely to continue amid elevated crude oil prices due to the West Asia war, according to analysts.

The Nifty 50 USD, which measures India's bellwether stock index in dollar terms, has generated a 13.41% negative return, compared with the barely 4% negative return of the index in rupee terms over the past one year through 22 May, per Bloomberg data.







This has resulted in foreign portfolio investors (FPIs) withdrawing $39.94 billion ( Rs.3.65 trillion) from Indian secondary markets over the period (22 May 2025-22 May 2026). Wh...