Weekly Musings – Index performance for week ended April 25, 2025

28 Apr 2025 , 07:43 AM

The week saw FPIs net buying in equities to the tune of $2,040 Million. VIX, which had sobered to 15.47 levels in the previous week, spiked to 17.16 after the attacks in Pahalgam. Geopolitical risk, in a sense, disrupted the momentum of the market this week.

BSE SENSEX 30 INDEX – ENDS HIGHER, DESPITE FRIDAY SELL-OFF

Date	Open	High	Low	Close
25-Apr-25	79,830.15	80,130.66	78,605.81	79,212.53
24-Apr-25	80,058.43	80,173.92	79,724.55	79,801.43
23-Apr-25	80,142.09	80,254.55	79,506.90	80,116.49
22-Apr-25	79,728.39	79,824.30	79,253.44	79,595.59
21-Apr-25	78,903.09	79,635.05	78,776.06	79,408.50
18-Apr-25	76,968.02	78,616.77	76,665.77	78,553.20
		Weekly Returns		+0.84%

Data Source: BSE

For the week April 25, 2025, Sensex gained +659 points or +0.84%. Sensex rallied in the first 3 days, before the political risk intervened. Sensex touched a weekly high of 80,255 and a low of 78,606; displaying high levels of volatility on Friday.

NIFTY 50 INDEX – IT SECTOR BOOSTS THE NIFTY

Date	Open	High	Low	Close
25-Apr-25	24,289.00	24,365.45	23,847.85	24,039.35
24-Apr-25	24,277.90	24,347.85	24,216.15	24,246.70
23-Apr-25	24,357.60	24,359.30	24,119.95	24,328.95
22-Apr-25	24,185.40	24,242.60	24,072.00	24,167.25
21-Apr-25	23,949.15	24,189.55	23,903.65	24,125.55
18-Apr-25	23,401.85	23,872.35	23,298.55	23,851.65
		Weekly Returns		+0.79%

Data Source: NSE

Despite the dollar index at 99.5 levels, the IT sector gave a leg-up to the Nifty this week. For the week to April 25, 2025, Nifty gained +188 points or +0.79%, largely led by a rally in IT stocks. Nifty touched a weekly high of 24,366 and a low of 23,848; both on Friday.

NIFTY MID-CAP 100 INDEX – STANDS OUT AMONG GENERIC INDICES

Date	Open	High	Low	Close
25-Apr-25	55,080.80	55,213.90	53,116.15	53,570.20
24-Apr-25	55,094.05	55,223.35	54,912.90	54,969.85
23-Apr-25	54,777.30	55,076.25	54,069.40	55,041.10
22-Apr-25	54,177.65	54,635.05	53,843.85	54,397.15
21-Apr-25	52,935.05	54,025.00	52,840.00	53,974.45
18-Apr-25	52,286.35	52,736.35	52,061.80	52,657.80
		Weekly Returns		+1.73%

Data Source: NSE

Mid-cap IT led the rally in the week on the back of value buying. The good news is the mid-cap index is now decisively above 50,000 levels. Nifty Mid-cap touched a weekly high of 55,224 and a low of 52,840; holding gains even amidst market volatility.

NIFTY SMALL-CAP 100 INDEX – STILL FACES THE X-FACTOR

Date	Open	High	Low	Close
25-Apr-25	16,976.95	17,013.80	16,319.60	16,547.20
24-Apr-25	16,984.05	17,060.20	16,936.05	16,963.50
23-Apr-25	16,997.80	17,065.35	16,692.80	16,969.75
22-Apr-25	16,856.50	16,976.20	16,740.75	16,896.00
21-Apr-25	16,497.35	16,793.85	16,442.35	16,773.35
18-Apr-25	16,318.10	16,455.80	16,274.30	16,410.20
		Weekly Returns		+0.83%

Data Source: NSE

Despite steady Brent and USDINR, the small cap index remained tentative with just +0.83% gains. Nifty Small-cap index touched a weekly high of 17,065 and a low of 16,320; with investors still nervous about the inherent risks of small cap stocks.

BANK NIFTY INDEX – REFLECTS AT-PAR RESULTS OF INDIAN BANKS

Date	Open	High	Low	Close
25-Apr-25	55,233.55	55,350.55	54,176.45	54,664.05
24-Apr-25	55,103.90	55,550.45	55,088.40	55,201.40
23-Apr-25	56,097.10	56,098.70	55,162.50	55,370.05
22-Apr-25	55,414.30	55,961.20	55,243.55	55,647.20
21-Apr-25	54,891.25	55,461.65	54,674.95	55,304.50
18-Apr-25	53,153.75	54,407.20	53,084.90	54,290.20
		Weekly Returns		+0.69%

Data Source: NSE

For the week to April 25, 2025, Nifty Bank rallied +347 points or +0.69%. Results of private banks were on expected lines, but NIM pressures is an overhang amidst falling repo[ rates. The Bank Nifty touched a weekly high of 56,099 and a low of 54,176, amidst late sell-off.

NIFTY IT INDEX – SEES THE RETURN OF VALUE BUYING

Date	Open	High	Low	Close
25-Apr-25	35,487.30	35,941.45	35,068.15	35,562.25
24-Apr-25	35,463.60	35,572.00	35,197.30	35,307.10
23-Apr-25	34,700.10	35,522.75	34,648.45	35,414.65
22-Apr-25	34,075.60	34,130.30	33,789.15	33,941.05
21-Apr-25	33,299.60	34,528.55	33,283.85	34,135.05
18-Apr-25	32,832.65	33,471.55	32,470.95	33,372.35
		Weekly Returns		+6.56%

Data Source: NSE

For the week to April 25, 2025, Nifty IT Index was up a whopping 2,190 points or +6.56%, as value buying was back with a bang. The IT Index touched a weekly high of 35,941 and a low of 33,283, gaining even in the midst of the Friday sell-off.

NIFTY OIL & GAS INDEX – RALLIES AHEAD OF RELIANCE Q4 RESULTS

Date	Open	High	Low	Close
25-Apr-25	10,948.35	11,016.10	10,700.10	10,788.65
24-Apr-25	10,923.45	10,976.20	10,903.25	10,945.45
23-Apr-25	10,980.25	10,992.70	10,804.20	10,957.15
22-Apr-25	10,970.90	11,011.80	10,888.30	10,941.50
21-Apr-25	10,722.65	10,968.15	10,692.85	10,946.35
18-Apr-25	10,558.65	10,716.85	10,479.75	10,692.20
		Weekly Returns		+0.90%

Data Source: NSE

For the week to April 25, 2025, Nifty Oil & Gas Index was up +96 points or +0.90%. Oil bounced on hopes that retail and Jio would offset O2C weakness in RIL. The Oil & Gas Index touched a weekly high of 11,016 and a low of 10,693; amidst steady crude prices.

NIFTY AUTO INDEX – LOWER LENDING RATES THE NEW NARRATIVE

Date	Open	High	Low	Close
25-Apr-25	22,385.30	22,541.90	21,885.20	21,994.50
24-Apr-25	22,426.90	22,492.80	22,286.85	22,367.55
23-Apr-25	21,999.95	22,456.90	21,947.05	22,424.45
22-Apr-25	21,837.05	21,957.70	21,729.80	21,903.70
21-Apr-25	21,463.45	21,848.15	21,272.15	21,826.00
18-Apr-25	21,152.00	21,414.60	20,953.10	21,373.10
		Weekly Returns		+2.91%

Data Source: NSE

For the week to April 25, 2025, Nifty Auto Index gained +621 points or +2.91%. With tariffs on hold, auto stocks gained from hopes of lower funding costs. Nifty Auto Index touched a weekly high of 22,542 and a low of 21,272 levels.

NIFTY FMCG INDEX – BELLWETHER Q4 PULLS DOWN FMCG

Date	Open	High	Low	Close
25-Apr-25	56,926.90	57,121.80	55,976.95	56,532.35
24-Apr-25	57,582.65	58,048.20	56,784.45	56,887.55
23-Apr-25	57,436.35	57,559.25	57,128.75	57,497.90
22-Apr-25	56,471.00	57,282.20	56,263.55	57,193.80
21-Apr-25	56,768.35	56,789.75	56,084.80	56,130.20
18-Apr-25	56,303.15	56,728.30	56,008.65	56,674.20
		Weekly Returns		-0.25%

Data Source: NSE

For week to April 25, 2025, FMCG index closed -0.25% lower. Q4 results of HUL and Nestle India showed urban demand pressure and EBITDA margin stress, amid rising input costs. Nifty FMCG Index touched a weekly high of 57,559 and a low of 55,977 levels.

NIFTY HEALTHCARE INDEX – PHARMA REMAINS A CAUTIOUS PLAY

Date	Open	High	Low	Close
25-Apr-25	14,207.90	14,269.65	13,721.95	13,829.80
24-Apr-25	14,125.75	14,231.45	14,029.60	14,173.35
23-Apr-25	14,003.45	14,129.55	13,928.95	14,117.25
22-Apr-25	13,842.55	13,965.10	13,734.70	13,930.35
21-Apr-25	13,826.75	13,838.70	13,670.65	13,819.40
18-Apr-25	13,559.50	13,736.05	13,545.05	13,711.05
		Weekly Returns		+0.87%

Data Source: NSE

For the week to April 25, 2025, Nifty Healthcare Index rallied +119 points or +0.87%. Pharma tariff uncertainty continues; but it still remains a good defensive bet. The Healthcare Index touched a weekly high of 14,270 and a low of 13,671, in the week.