Foreign portfolio investors (FPIs) have increased their exposure to select mid and large-cap companies in the March 2026 quarter (Q4FY26), according to the data from ACE Equity. The latest FPI shareholding in the BSE 500 stocks shows that foreign investors are choosing specific sectors and companies rather than buying the market broadly.

The biggest increase in FPI stake during the March 2026 quarter was seen in Vishal Mega Mart. FPIs raised their shareholding by 6.48 percentage points to 22%. This indicates continued foreign interest in India’s consumption story. However, as of April 23, 2026, this stock has fallen about 9% this year so far. It has the latest market cap of Rs 58,181 crore.

Multi-Commodity Exchange of India (MCX) saw FPI stake rise by 5.43 percentage points to 26.07%. MCX shares have also rose 25% in 2026 so far, with market value rising sharply to Rs 71,000 crore.

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In the housing finance space, Home First Finance Company India attracted steady FPI inflows, with stake increasing by 4.90 percentage points to 45.72%. The stock has also delivered a moderate 7% return this year.

Infrastructure-linked companies are also on the FPI radar. Makers of Steel & Iron Products, APL Apollo Tubes saw a 4.40 percentage point increase in foreign holding to 37.50%, while its stock gained 11% year-to-date. This reflects optimism around construction and infrastructure demand.

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Among industrial plays, cable manufacturer Polycab India witnessed a 3.39 percentage point rise in FPI stake to 18.21%. The stock has delivered a modest 5% return in 2026, indicating stable performance.

However, not all FPI buying has been translated into positive returns. In the chemicals space, Clean Science and Technology saw foreign investors increase their stake by 3.37 percentage points, but the stock is down 13% this year.
In the agrochemicals sector, UPL recorded a 2.94 percentage point increase in FPI holdings to 41.78%, yet the stock has declined 18% in 2026 so far.

FPIs are clearly turning selective and are increasing exposure to sectors like finance, consumption, and infrastructure. But their buying does not guarantee short-term returns. Stock prices still depend on earnings growth, sector outlook, and global factors.