Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) exhibited contrasting trading behaviors in the Indian equity markets between May 19 and May 21, 2025. On May 19, both FIIs and DIIs were net sellers, offloading equities worth ₹525.95 crore and ₹237.93 crore respectively. On May 20, FIIs extended their selling streak, recording a net sell of ₹10,016.1 crore, marking their largest single-day outflow in over two months, while DIIs countered with a net purchase of ₹6,738.39 crore. FIIs continued to buy selectively in sectors such as financials, capital goods, oil & gas, and telecom, but sold holdings in FMCG and realty. The FIIs' long-short ratio for index futures declined from 42.32 on May 19 to 37.04 on May 20, with a net sale of 15,250 index futures contracts. On May 21, the trend reversed with FIIs net buying ₹2,201.79 crore and DIIs also net buying ₹683.77 crore in equities, indicating a shift in market sentiment. These movements were reflected in provisional data from the National Stock Exchange (NSE) and market analytics platforms.