Shutterstock.com The market has been wedged in a range of 14,250 -15,050 since the past month, with strong resistance cropping up near the upper band. MUMBAI: In a clear sign of growing concerns over the economic fallout from surging Covid cases, foreign institutional investors (FIIs) have sharply cut their bullish bets on Nifty and Bank Nifty futures. Coupled with cash market sales, this has dragged down the Nifty by 2.7% over the past three sessions. While selling ₹4,821 crore of shares so far this month, FIIs cut their cumulative bullish bets on the Nifty and Bank Nifty futures from 52,927 contracts on April 29 to just 4,487 contracts on May 4. Last month they net sold shares worth ₹9,659 crore, show NSDL data.