New Delhi, June 21 (TIWN) While FIIs are on a selling spree in the Indian markets, domestic institutions, including mutual funds and insurance companies, have been acting as a buffer, driven by the large inflow of retail money into the stock markets.

The Nifty ended 3 per cent lower MoM at 16,585 in May - the second consecutive month of a decline. However, Nifty has remained resilient in CY22YTD despite multiple headwinds.  India was among the laggards in May. Russia (minus 7 per cent), India (minus 3 per cent), and Indonesia (minus 1 per cent) ended lower in local currency terms though China (5 per cent), Brazil (3 per cent), Japan (2 per cent), Taiwan (1 per cent), and the UK (1 per cent) closed higher. Over the last 12 months, MSCI India (7 per cent) has outperformed MSCI EM (minus 22 per cent), the report said.