"DIIs will continue like this...when DIIs get inflows, you will see some activity," Chief Executive Officer of IDBI MF, Debashish Mallick said.
He also said that investments of DIIs will be largely determined by one of the largest DIIs- LIC investment in domestic equities.
As per exchange data, DIIs have net sold Rs 73,234 crore of domestic equities till so far this year, which is higher than the last year's Rs 56,923 crore.
This is also one of the highest sales of domestic equities by DIIs in nearly one decade.
In contrast, foreign institutional investors have bought more than Rs 1 lakh crore worth stocks in Indian market as of now in this year, making it one of the highest inflows in a year.
"Given the volatile market environment with no inflows in sight, selling may continue in the near-term," Chief Executive Officer of Quantum Mutual Fund, Jimmy Patel said.
He, however, said that if inflows start coming into domestic institutions, this trend will be reversed.