Foreign institutional investors (FIIs) have sold significantly in May as India recorded the highest foreign fund outflows among emerging markets. The IT sector saw the highest FII selloff at ₹5,802 crore, followed by Oil and Fuels (₹5,554 crore), FMCG (₹4,173 crore), and automobiles and components (₹4,029 crore). However, capital goods and telecommunications saw strong FII inflows in May.