Has the selling by FIIs reduced or is it still continuing? When do you think they will start buying again?

Not at all! In fact, the FII selling is only intensifying with each passing day and the FIIs continue to sell even as local institutions are buying. FIIs have pulled out a $4.9 billion from equities in March 2020, making it the sharpest sell-off in such a short span of time. By the end of March the monthly FII sales are expected to surpass the peak 2008 sell-off levels. The pandemic has resulted in global risk-off investing and that has led to heavy selling across emerging markets. Most of Asia has seen outflows that are much steeper with Taiwan and South Korea leading the way in terms of FPI selling. India has seen the third largest outflows after Taiwan and Korea and this will on change when EMs are seen as attractive once again.