Foreign investors have pulled out Rs 5,524 crore from Indian equities so far in July, turning net sellers after three months of buying, amid US-India trade tensions and mixed earnings. Total outflows for 2025 have now reached Rs 83,245 crore, according to depository data.Himanshu Srivastava, Associate Director – Manager Research, Morningstar Investment Research India, told PTI that future FPI movements would depend on US-India trade discussions and corporate performance.He said that resolving trade disagreements and improved earnings could help regain investor trust, potentially encouraging FPIs to reinvest in Indian markets.Depositories data reveals that Foreign Portfolio Investors (FPIs) removed Rs 5,524 crore from equities this month (till July 18).This follows positive investments of Rs 14,590 crore in June, Rs 19,860 crore in May and Rs 4,223 crore in April. Previously, FPIs withdrew Rs 3,973 crore in March, Rs 34,574 crore in February, and Rs 78,027 crore in January.FPIs demonstrated a significant change in investment approach this month, moving away from their previous positive stance.“While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability,” Srivastava added.