Foreign Institutional Investors (FIIs) have sold shares worth Rs 17,000 crores in the Indian markets in the month of May so far. They have net invested in excess of Rs 94,000 crores during Jan to April, 2015.
Also, they have made reasonable profits in the last few months and they may have used the record gains on the Sensex to book profits.
The selling may have tapered as for the last few days we do not see too much of aggressive selling. However, analysts warn that if the reform process is not initiated in the next few months we may see renewed selling from FIIs.