While being net sellers of Rs 15,628 crore of cash market shares in the fiscal year to date, FIIs had so far hedged themselves by remaining net bullish on index futures, so as to gain from any appreciation. On April 12, they briefly shorted index futures, but the level was negligible at 200-odd contracts.On Tuesday, however, they sold Rs 2,220 crore worth of index futures, which corresponded to a cumulative 20,858 futures contracts of Nifty and Bank Nifty.