FPIs Sell ₹15K Cr; IT, Pharma Drag Indices as VIX Spikes 15%

30 Sep 2025 , 11:13 AM

FPIs were net sellers in equities worth more than INR 15000 cr last week. The VIX spiked by more than 15% to reach 11.5. Prior to that it had hit a 5 year low. Concerns regarding H1B visa fees and pharma tariffs led to significant selloff in both IT and Pharma indices. Midcaps fared worse as the NIFTY midcap index fell by more than 5% last week.

BSE SENSEX 30 INDEX – Visa Fee Spike Hits IT, Markets Dip

Weekly Performance: -2.66%

date	open	high	low	close
26 Sep, 2025	80956.0	81033.1	80332.4	80426.5
25 Sep, 2025	81574.3	81840.7	81092.9	81159.7
24 Sep, 2025	81917.6	82045.5	81607.8	81715.6
23 Sep, 2025	82147.4	82370.4	81776.5	82102.1
22 Sep, 2025	82151.1	82583.2	81997.3	82160.0
19 Sep, 2025	82946.0	82978.6	82485.9	82626.2

Source: BSE

The BSE Sensex 30 index fell sharply last week, down 2.66%, ending at 80,426.5. The decline was largely driven by the new USD 100,000 H1B visa fee in the US, which weighed heavily on IT stocks, dragging the sector down nearly 7.9%. Additionally, foreign institutional investors were net sellers and India VIX reached ~11.5 and reflecting heightened market volatility. Despite rallies in previous weeks, profit-booking and cautious sentiment amid global uncertainties and restrictive visa policies contributed to the market downturn. During the week, the index touched a high of 82,978.6 and a low of 80,332.4.

NIFTY 50 INDEX – Volatility and Profit Booking Weigh on Rally

Weekly Performance: -2.65%

date	open	high	low	close
26 Sep, 2025	24818.6	24868.6	24629.4	24654.7
25 Sep, 2025	25034.5	25092.7	24878.3	24890.8
24 Sep, 2025	25108.8	25149.8	25027.4	25056.9
23 Sep, 2025	25209.0	25261.9	25084.7	25169.5
22 Sep, 2025	25238.1	25331.7	25151.1	25202.3
19 Sep, 2025	25410.2	25428.8	25286.3	25327.1

Source: NSE

The NIFTY 50 index closed lower last week, down 2.65% at 24,654.7. The decline came on renewed profit booking, FPI selling, and rising market volatility, despite a preceding three-week rally supported by positive global cues such as the US Fed’s 25 bps rate cut and resilient domestic sectors. Heavyweight stocks like Tata Steel and Sun Pharma fell sharply, partially offsetting gains in Larsen & Toubro and Tata Motors. During the week, the index touched a high of 25,428.8 and a low of 24,629.4.

NIFTY MIDCAP 100 INDEX – Risk‑Off Surge Sends Mid‑Caps Tumbling

Weekly Performance: -4.6%

date	open	high	low	close
26 Sep, 2025	57450.6	57505.1	56327.4	56378.6
25 Sep, 2025	57947.4	58195.5	57471.6	57555.9
24 Sep, 2025	58484.2	58547.1	57879.9	57924.4
23 Sep, 2025	58777.9	58845.6	58293.3	58496.6
22 Sep, 2025	58977.9	59174.9	58546.9	58699.5
19 Sep, 2025	59124.1	59247.2	59051.2	59094.3

Source: NSE

The NIFTY MIDCAP 100 index tumbled last week, down 5% to close at 56,378.6. Risk-off sentiment dominated trading, as investors remained cautious amid rising macroeconomic concerns and broad market weakness. The index consistently hovered near weekly lows. Sectoral headwinds from IT weighed on performance. During the week, the index touched a high of 59,247.2 and a low of 56,327.4.

NIFTY SMALLCAP 100 INDEX – Earnings Miss Triggers Small‑Cap Plunge

Weekly Performance: -5.1%

date	open	high	low	close
26 Sep, 2025	17930.7	17946.2	17540.5	17560.9
25 Sep, 2025	18077.2	18176.2	17947.5	17966.8
24 Sep, 2025	18202.0	18237.2	18048.0	18069.5
23 Sep, 2025	18321.0	18349.6	18145.7	18191.8
22 Sep, 2025	18493.0	18521.7	18262.3	18288.9
19 Sep, 2025	18493.5	18538.6	18428.8	18504.5

Source: NSE

The NIFTY SMALLCAP 100 index fell sharply last week, down 5.1% to close at 17,560.9. The selling was broad-based where declining stocks heavily outnumbered gainers. The index hit a high of 18,538.6 early in the week before dropping to a low of 17,540.6. This reversal follows the previous week’s rally of nearly 3%, supported by a low volatility environment and optimism from the US Federal Reserve’s rate cut. Last week’s performance highlighted a shift from optimism to caution amid earnings pressures and heightened risk aversion.

NIFTY BANK INDEX – Margin Squeeze Triggers Banking Pullback

Weekly Performance: -1.93%

date	open	high	low	close
26 Sep, 2025	54797.9	54897.0	54310.9	54389.4
25 Sep, 2025	55061.6	55276.6	54903.3	54976.2
24 Sep, 2025	55387.1	55511.1	55040.4	55121.5
23 Sep, 2025	55248.7	55662.0	55159.0	55509.8
22 Sep, 2025	55429.3	55666.4	55215.6	55284.8
19 Sep, 2025	55647.9	55688.8	55355.3	55458.9

Source: NSE

The NIFTY Bank index fell 1.93% last week, closing at 54,389.4, on account of the broadbased selloff. However, it marked its second week of outperformance vs NIFTY. During the week, the index oscillated between a high of 55,688.8 and a low of 54,310.9, reflecting cautious investor behaviour in the banking sector. Overall, the index underperformed the broader market as investors stayed wary of banking sector risks.

NIFTY IT INDEX – US Visa Fee Rises Risk For Indian IT

Weekly Performance: -7.86%

date	open	high	low	close
26 Sep, 2025	34399.2	34477.3	33636.6	33702.0
25 Sep, 2025	34914.0	35092.4	34460.3	34548.3
24 Sep, 2025	35104.1	35193.3	34857.7	34994.3
23 Sep, 2025	35477.6	35642.7	35177.4	35249.1
22 Sep, 2025	35437.9	35781.6	35145.1	35500.1
19 Sep, 2025	36765.5	36821.2	36369.9	36578.2

Source: NSE

The NIFTY IT index fell sharply last week, down 7.86% to close at 33,702.0. The decline came on heightened investor concerns after the US announced a steep USD 100,000 H-1B visa fee, expected to impact the Indian IT sector’s US business. Profit booking in IT stocks, coupled with ongoing geopolitical and trade uncertainties, contributed to the sector-wide sell-off. During the week, the index touched a high of 36,821.2 and a low of 33,636.6. Overall, IT stocks underperformed the broader market, reflecting investor caution in the wake of the visa fee announcement.

NIFTY OIL  GAS INDEX – Rising Crude, Sector Faces Headwinds

Weekly Performance: -1.77%

date	open	high	low	close
26 Sep, 2025	11211.6	11214.0	11104.0	11132.5
25 Sep, 2025	11237.2	11299.5	11202.0	11212.9
24 Sep, 2025	11307.4	11320.2	11235.8	11247.5
23 Sep, 2025	11344.2	11367.4	11271.3	11317.4
22 Sep, 2025	11321.0	11405.1	11287.2	11327.0
19 Sep, 2025	11299.0	11369.9	11298.0	11333.3

Source: NSE

The NIFTY Oil & Gas index declined 1.77% last week, closing at 11,132.5, reversing gains from the previous three weeks. During the week, the index touched a high of 11,405.1 and a low of 11,104.0. Overall, the sector underperformed as investors remained wary of supply risks and geopolitical developments.

NIFTY FMCG INDEX – Urban Demand Woes Drag FMCG Down

Weekly Performance: -2.53%

date	open	high	low	close
26 Sep, 2025	55031.6	55199.6	54776.9	54847.6
25 Sep, 2025	55424.8	55656.0	55031.6	55108.0
24 Sep, 2025	55290.1	55703.9	55110.2	55378.9
23 Sep, 2025	56025.4	56127.4	55242.8	55281.6
22 Sep, 2025	56357.0	56425.5	55859.5	56006.8
19 Sep, 2025	56594.6	56640.7	56191.8	56273.1

Source: NSE

The NIFTY FMCG index fell 2.53% last week, closing at 54,847.6, as weak urban demand weighed on the sector. The index touched a high of 56,640.7 and a low of 54,776.9 during the week. Overall, the sector marginally outperformed the broader markets. However, the marginal outperformance and the recent underperformance highlight investors cautious ahead of the upcoming Q2FY26 earnings.