NSDL FPI data vs NSE FII data: why they differ

NSDL FPI data vs NSE FII data is the gap between two numbers that both claim to show what foreign investors did in Indian markets. NSE's FII/DII figure is provisional, published the same evening from what trading members report. NSDL's FPI figure is built from custodians' reports to the depositories and lands one reporting day later. Read on 28 September 2026, the two figures dated that day were NSE's net FII/FPI sale of 5,353.22 crore rupees and NSDL's net equity outflow of 3,573.51 crore through stock exchanges, and they describe different trading days. This guide shows how to line them up. It is not investment advice.

NSDL FPI data vs NSE FII data: what does each one measure?

NSDL states the difference at the top of its own daily report. Read on 28 September 2026, the note says the stock exchanges compile provisional FII/FPI trade data from information trading members provide during trading on T day, while NSDL's confirmed data is compiled from reports custodians submit to the depositories and covers trades up to the previous trading day or days. So NSDL FPI data and NSE FII data differ in source, in timing and in scope.

What did each report show on 28 September 2026?

NSE's FII/DII page publishes two provisional tables. Read on 28 September 2026 from the page's data feeds:

All figures in crore rupees. Source: NSE FII/DII trading activity report.

NSDL's Latest report, read the same day, was headed "Daily Trends in FPI Investments on 28-Sep-2026". Its equity lines:

All figures in crore rupees; NSDL used a conversion rate of 95.8918 rupees to the US dollar, so the equity sub-total reads minus 371.66 million dollars. Source: NSDL FPI Monitor.

Reading those two numbers side by side as the same day is the most common mistake. NSDL's row dated 28 September 2026 holds Friday 25 September's trades. NSE's 28 September trading will appear in NSDL's next reporting date.

How do you line up NSDL FPI data with the NSE figure?

1. Shift the date. Take NSE's figure for trading day T and compare it with NSDL's row for the next reporting date, not the row with the same label.
2. Compare like with like. Use NSDL's "Equity, Stock Exchange" line against NSE's FII/FPI net. NSDL's "Primary market and others" line and its debt, hybrid, mutual fund and AIF lines have no counterpart in NSE's cash-market figure.
3. Pick one NSE table and name it. The combined NSE, BSE and MSEI table and the NSE-only table differed by 445.44 crore of FII/FPI net selling on 28 September 2026.
4. Expect a residual gap. One is provisional and the other confirmed, so even the shifted comparison is not guaranteed to match to the rupee.

Why do monthly FPI totals differ from summed NSE figures?

NSDL's Archive report, which takes a date and returns every reporting date in that month, adds a month total and a year total. Read on 28 September 2026, it showed equity net selling through stock exchanges of 29,255.58 crore for September 2026 and 299,545.48 crore for 2026 so far, and 35,686.11 crore across all routes for September. Because the rows are reporting dates, NSDL's September total starts with the row dated 1 September 2026, which carries the previous trading day's trades, and stops at the latest reporting date. A month summed from NSE's daily figures covers September's own trading days. The two monthly totals therefore cover different windows, before any difference in scope.

Which one should a flow tracker quote?

Both, labelled. The NSE figure is the fast one and the one headlines use; see FII/DII activity explained and how to track FII/DII activity daily. The NSDL figure is the confirmed FPI series, split by asset class and route, and NSDL's FPI Monitor site also carries foreign investment limit monitoring: see the FPI 10 percent limit and the FPI red flag list. Neither tells you which stocks foreign investors hold; for that, the quarterly shareholding pattern is the record, see how to check FPI holdings in a stock. On terms, the FII vs FPI page explains why the two labels name one group.

The short version of NSDL FPI data vs NSE FII data: NSE is provisional and same day, NSDL is confirmed and a day behind, and a fair comparison shifts the date and uses NSDL's equity stock exchange line.

Flock reads disclosure filings and keeps each one dated and linked back to its source, so you can go from a summary to the original filing in one step. What any of it means for your money is your call to make.