Weekly Market Wrap: NIFTY's Best Week in Years

28 Apr 2025 , 02:23 PM

Against the backdrop of uncertain global situation including the rising geopolitical tensions due to the dastardly Kashmir terrorist attack, the Indian stock indices traded with mixed performance. The NIFTY 50 was up by 0.79% on the back of a strong performance from IT, Auto and Pharma names, led by Tech Mahindra, HCL Technologies, and Tata Motors. The IT index ended as the top sectoral gainer with NIFTY IT rising 6.56%, while tariff-war fears abated and supported the momentum. NIFTY BANK underperformed even as AU Bank posted an impressive performance, while Pharma sector gained a little with NatCopharm and Divi which registered handsome gains. On the other hand, NIFTY ENERGY and FMCG registered weak performances. Overall, while rotation was seen at the sector level, the broader market held up well.

 

NIFTY 50

＄NIFTY 50 – Modest Weekly Gain Amidst Volatility

date	open	high	low	close
2025-04-21	23949.2	24189.6	23903.7	24125.6
2025-04-22	24185.4	24242.6	24072.0	24167.2
2025-04-23	24357.6	24359.3	24119.9	24328.9
2025-04-24	24277.9	24347.8	24216.2	24246.7
2025-04-25	24289.0	24365.4	23847.8	24039.3

Weekly Performance: 0.8%

The NIFTY 50 index rose 0.79%. Tech Mahindra, HCL Technologies, Mahindra & Mahindra, Tata Motors and SBI Life were the top gainers, up 11.72 per cent, 9.62 per cent, 6.93 per cent, 5.24 per cent and 5.15 per cent, respectively. Market breadth was positive – with 28 advances and 22 declines on the index. While the broader market experienced modest gains, Auto and IT stocks recorded strong gains on warning tarriff war uncertainty.

 

NIFTY MIDCAP SELECT

＄NIFTY MIDCAP SELECT – IT stocks propel a strong week

date	open	high	low	close
2025-04-21	11742.1	11970.0	11695.8	11952.8
2025-04-22	11985.5	12143.5	11939.5	12095.8
2025-04-23	12200.0	12275.5	12041.0	12266.2
2025-04-24	12285.5	12321.3	12216.7	12243.0
2025-04-25	12292.7	12334.7	11872.8	11971.4

Weekly Performance: 2.6%

The NIFTY MIDCAP SELECT index was up 2.6% last week and outperformed NIFTY. IT stocks led the rally. Top gainers were Coforge which jumped 11.74 per cent followed by Mphasis that gained 11.01%, Persistent 8.75% and OFSS 7.95%. The top losers were Voltas, Polycab, BHEL, Hindustan Petroleum, and Yes Bank, with losses of 1.77-4.51 per cent. Advancing issues outnumbered declines by 15 to 10.

 

NIFTY IT

＄NIFTY IT – IT Sector records strong gains

date	open	high	low	close
2025-04-21	33299.6	34528.6	33283.9	34135.1
2025-04-22	34075.6	34130.3	33789.1	33941.1
2025-04-23	34700.1	35522.8	34648.4	35414.6
2025-04-24	35463.6	35572.0	35197.3	35307.1
2025-04-25	35487.3	35941.4	35068.1	35562.2

Weekly Performance: 6.6%

The NIFTY IT Index was a strong outperformer for last week, up by 6.56% versus NIFTY 50 little over 0.79% higher. The biggest gainers on the Nifty IT were Coforge (up 11.74%), Tech Mahindra (11.72%), Mphasis (11.01%), HCL Technologies (9.62%) and Persistent Systems (8.75%). None of the index stocks were done and the rally was broadbased. This is a significant event given that the IT index has been witnessing material selling pressure in the recent past. In fact, 4 of the recent 12 weeks had bottom decile performances. More than any stock specific event, the rally was driven relief over the worst of the tariff-induced uncertainty being likely behind us.

 

NIFTY AUTO

＄NIFTY AUTO – Auto Accelerates on Tariff Relief and Analyst Upgrades

date	open	high	low	close
2025-04-21	21463.4	21848.2	21272.2	21826.0
2025-04-22	21837.1	21957.7	21729.8	21903.7
2025-04-23	21999.9	22456.9	21947.1	22424.4
2025-04-24	22426.9	22492.8	22286.8	22367.6
2025-04-25	22385.3	22541.9	21885.2	21994.5

Weekly Performance: 2.9%

The NIFTY AUTO Index gained strongly last week with a change of 2.91%. Among the biggest gainers were Mahindra & Mahindra (up 6.93 per cent), Tata Motors (up 5.24 per cent), Ti India Limited (up 2.97 per cent).  In contrast, Eicher Motor, Exide Industries and Maruti declined with Eicher Motor losing the most at 2.09 per cent. The index had 11 advances and 4 declines and indicates broad-based strength. Subsiding tarriff uncertainty was among the key reasons for the rally. Also, brokerage upgrades drove stocks like M&M and Tata Motors higher.

 

NIFTY BANK

＄NIFTY BANK – NIFTY Bank Index lags despite broader gains

date	open	high	low	close
2025-04-21	54891.2	55461.6	54674.9	55304.5
2025-04-22	55414.3	55961.2	55243.6	55647.2
2025-04-23	56097.1	56098.7	55162.5	55370.1
2025-04-24	55103.9	55550.4	55088.4	55201.4
2025-04-25	55233.6	55350.6	54176.4	54664.1

Weekly Performance: 0.7%

The NIFTY BANK Index was up 0.69 percent last week, little lower than NIFTY 50. In a significant development, AU Bank surged the most 14.4%, followed by Indian Bank (7.1%), IndusInd Bank (7.0%), Bank of Baroda (6.3%) and Federal Bank (5.9%). Conversely, Axis Bank, PNB, ICICI Bank and State Bank of India fell. The underperformance happened despite broadbased strength as evidenced in the 8-4 reading in advances to declines. The strong gains in AU Bank were on the back of its financial results. Conversely, profit booking after the recent strong rally and likely sector rotation into IT services were headwinds for the sector.

 

NIFTY ENERGY

＄NIFTY ENERGY – Underperforms NIFTY despite selective strength in renewable stocks

date	open	high	low	close
2025-04-21	33968.5	34711.4	33840.1	34640.8
2025-04-22	34770.1	34812.9	34453.6	34516.4
2025-04-23	34685.4	34785.1	34185.8	34755.1
2025-04-24	34684.1	34842.6	34637.9	34726.8
2025-04-25	34751.1	34874.1	33599.6	33956.5

Weekly Performance: 0.5%

The NIFTY ENERGY index underperformed NIFTY with a 0.47% change in price. Top gainers on the index were INOX Wind and Suzlon Energy, up 5.31% and 4.98%, respectively, while JSW Energy and Adani Green were the top losers, down 5.21% and 3.4%. The market breadth was even advances matched declines. According to a recent report by ICICI Securities, renewable energy stocks such  are likely to benefit from growing tender pipeline in renewable energy space. There is an estimated 17GW tender pipeline, and this could act as a growth catalyst.

 

NIFTY FMCG

＄NIFTY FMCG – Lags NIFTY on weak results from bellweathers

date	open	high	low	close
2025-04-21	56768.4	56789.8	56084.8	56130.2
2025-04-22	56471.0	57282.2	56263.6	57193.8
2025-04-23	57436.4	57559.2	57128.8	57497.9
2025-04-24	57582.6	58048.2	56784.4	56887.6
2025-04-25	56926.9	57121.8	55976.9	56532.4

Weekly Performance: -0.2%

In the past week, the NIFTY FMCG index fell 0.25% compared to the NIFTY 50 index that rose 0.79%. Colgate-Palmolive has emerged as the top gainer with 3.68 % rise, followed by Tata Consumer Products, Godrej Consumer Products, and Dabur. On the other hand, VBL, Britannia Industries, Hindustan Unilever and Radico Khaitan were the top losers. Advance decline ratio was slightly skewed towards the losers as 7 advanced against 8 losers. Weak results from sector bellweathers was the key issue that dragged the sector down. In addition, profit booking and sector rotation and concerns over valuations have likely impacted the returns.

 

NIFTY PHARMA

＄NIFTY PHARMA – Outperforms as Tariff Worries Ease; Biocon Lags on Fundraising Plans

date	open	high	low	close
2025-04-21	21308.9	21380.4	21078.1	21351.1
2025-04-22	21378.8	21501.8	21202.3	21438.1
2025-04-23	21537.7	21759.6	21422.7	21738.9
2025-04-24	21769.2	22058.2	21679.4	21974.6
2025-04-25	22008.5	22116.2	21323.2	21482.6

 

Weekly Performance: 1.7%

The NIFTY PHARMA index was up 1.68% last week, compared to 0.79% rise in NIFTY 50 index. NatCopharm (up 7.53 per cent), Divi’s Lab (up 6.86 per cent), Lupin (up 4.38 per cent), Aurobindo Pharma (up 3.88 per cent) and Zydus Lifesciences (up 3.26 per cent) were among the top gainers in the index. On the other hand, were Biocon (-5.83%), J.B. Chemicals (-4.63%), Granules India (-3.29%), Abbott India (-3.1%), and Mankind Pharma (-1.79%), were the key losers. Advance Decline Ratio was slightly skewed towards the advances (11 out of 20). In the recent past, the index performance has been volatile with weekly returns routinely being in either the top decile or bottom decile.

After falling the prior week on patent related issues, Lupin and Zydus Lifesciences recovered materially last week indicating that the earlier fall may have been an overreaction. On the other hand, Biocon’s fall was likely due to its fundraising plans. Overall, the index breathed a sign of relief as the worst of tariff uncertainty might be behind us.

 

NIFTY REALTY

＄NIFTY REALTY – Realty Outperforms as Rate Cut Boosts Sentiment

date	open	high	low	close
2025-04-21	852.8	867.2	839.7	864.1
2025-04-22	868.8	890.8	859.7	885.0
2025-04-23	892.2	904.7	885.6	896.8
2025-04-24	898.5	900.8	880.3	884.2
2025-04-25	890.0	895.7	853.8	859.3

Weekly Performance: 1.7%

The NIFTY REALTY index was strong last week, up 1.69% compared to NIFTY 50’s 0.79% increase. Top gainers were Lodha, Godrej Properties, Brigade, Sobha and Prestige. Also, the strength was broad-based as there were more advanced than declines (6 to 4). RBI’s decision to cut the benchmark repo rate was a likely boost for the sector.