Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this marked the first month of net outflows after three straight months of positive inflows between April and June.The reversal in trend was driven by heavy selling in the final week of the month. Between July 28 and August 1, foreign investors withdrew Rs 17,390.6 crore from Indian equities — almost the entire monthly outflow, ANI reported.The sudden pullback is being attributed to the recent reciprocal tariffs imposed by the United States, which impacted India among other trading partners. These measures have raised concerns over global trade stability and prompted foreign investors to reassess exposure to emerging markets like India.With the sharp July selloff, total net FPI outflows in the 2025 calendar year have now crossed Rs 1,01,795 crore.May had seen the highest monthly inflow by FPIs so far this year, with Rs 19,860 crore pouring into Indian stocks. In contrast, January had recorded the largest single-month sell-off, with net outflows of Rs 78,027 crore.June had registered net FPI inflows worth Rs 14,590 crore. However, March and February had seen withdrawals of Rs 3,973 crore and Rs 34,574 crore respectively.