Weekly Market Wrap (March 03-07, 2025)

10 Mar 2025 , 10:22 AM

NIFTY 50

＄NIFTY 50 – Ends the losing streak with a sharp rally. No support from FIIs yet.

date	open	high	low	close
2025-03-03	22194.6	22261.6	22004.7	22119.3
2025-03-04	21974.4	22105.1	21964.6	22082.7
2025-03-05	22073.1	22394.9	22067.8	22337.3
2025-03-06	22476.3	22556.4	22245.8	22544.7
2025-03-07	22508.7	22633.8	22464.8	22552.5

Weekly Performance: 1.9%

The NIFTY 50 index closed the week with a 1.9% gain, driven by a broad-based rally. Among the key gainers were Bharat Electronics (+12.5%), Tata Steel (+10.5%), and BPCL (+10.1%). Advance Decline ratio of 3.6x indicates few losers during the week. Indusind Bank (-5.4%), Bajaj Auto (2%), and HDFC Bank (-2.5%) were the key losers. The market bounced back despite the continued selling by FIIs. Data indicates that FIIs sold more than INR 24500cr in the first week of march. This is the 13th consecutive week of FII selling. Some of the technical indicators like RSI (below 30) were indicating that the NIFTY was at oversold levels and supported a recovery.

 

NIFTY MIDCAP SELECT

＄NIFTY MIDCAP SELECT – Midcaps snapback as markets recover.

date	open	high	low	close
2025-03-03	10803.8	10893.5	10622.0	10866.1
2025-03-04	10755.2	10901.7	10669.2	10833.7
2025-03-05	10835.3	11180.4	10835.3	11168.5
2025-03-06	11274.7	11308.8	11172.5	11190.7
2025-03-07	11176.2	11223.5	11084.0	11117.9

Weekly Performance: 3.2%

The NIFTY MIDCAP SELECT index gained 3.2% this week. Indian Midcaps were one of the worst performing asset classes YTD; and last week’s bounce back was driven by a broadbased rally across the space. Advance Decline ratio of 3.8x reiterates the broadbased nature of the rally. Among the top gainers were Hindustan Petroleum (13.2%), Polycab (7.4%), and Bharti Forge (7.0%). On the other hand, financials saw weaker performance as there was a likely sector rotation into underperforming sectors. AU Small Finance Bank (-3.8%), IDFC First Bank (-1.8%), and Ashok Leyland (-1.5%) were among the top losers.

 

NIFTY AUTO

＄NIFTY AUTO – Declines in heavyweights (Bajaj Auto and Maruti) temper the broadbased rally

date	open	high	low	close
2025-03-03	20591.5	20865.8	20368.8	20538.2
2025-03-04	20295.8	20462.8	20174.8	20269.2
2025-03-05	20354.8	20848.4	20327.1	20796.8
2025-03-06	21030.7	21068.8	20733.4	20959.7
2025-03-07	20925.8	21197.0	20846.0	21009.7

Weekly Performance: 2.5%

NIFTY AUTO index closed the week with a gain of 2.5%. Apollo Tyre (+9.9%) and Motherson (+7.8%) were the top gainers as they bounced back after under-performing in the prior week. On the other hand, heavy weights Bajaj Auto (-4.2%) and Maruti (-2.4%) were a key drag. 2W stocks like Bajaj Auto are near their 52W low (-40% from their September peaks). A lackluster domestic 2W market has been the key concern.

 

NIFTY BANK

＄NIFTY BANK – FII selling and likely sector rotation out of banks results in underperformance

date	open	high	low	close
2025-03-03	48478.6	48574.7	47841.3	48114.3
2025-03-04	47942.5	48374.9	47924.8	48245.2
2025-03-05	48241.3	48657.6	48190.2	48489.9
2025-03-06	48760.0	48839.1	48299.4	48627.7
2025-03-07	48463.8	48709.1	48359.4	48497.5

Weekly Performance: 0.3%

NIFTY BANK index rose 0.3% for the week. It had outperformed the NIFTY 50 by more than 4% the week before. The strong relative performance in prior week and continued FII selling in Indian markets were the likely reasons for its underperformance last week. Among the top gainers were PSU banks – State Bank of India (+6.4%), Canara Bank (+5.1%) and Bank of Baroda (+4.5%). The key drag on the index was HDFC Bank (-2.5%). It likely bore the brunt of FII selling. Among other losers were IndusInd Bank (-5.4%) and AU Small Finance (-3.8%).

 

NIFTY ENERGY

＄NIFTY ENERGY – Outperforms NIFTY on a broadbased rally

date	open	high	low	close
2025-03-03	30091.9	30219.8	29313.2	30007.1
2025-03-04	29623.3	30334.2	29406.6	30239.2
2025-03-05	30248.3	31126.3	30246.8	31099.4
2025-03-06	31431.8	31782.6	31249.9	31729.8
2025-03-07	31723.3	32075.6	31599.0	31788.4

Weekly Performance: 5.9%

The NIFTY ENERGY index rose 5.9% for the week, driven by a broadbased rally. Top gainers include Triveni Turbine (+26.2%), Hitachi Energy India (+15.6%), and Adani Energy (+14.9%). Most notably, RIL gained during the week as expectations over a listing of its telecom unit gained ground. There has been favorable newsflow with respect to India trying to boost energy ties with the US. Increasing Oil & Gas purchases from US and a fall in oil price were among the other factors that contributed to the rally.

 

NIFTY FMCG

＄NIFTY FMCG – VBL bounces back on broker upgrades

date	open	high	low	close
2025-03-03	50739.8	50856.8	50287.9	50786.6
2025-03-04	50494.3	50602.6	50199.4	50524.2
2025-03-05	50397.3	51613.9	50397.3	51279.1
2025-03-06	51597.6	51966.0	51108.9	51890.3
2025-03-07	51804.9	52005.2	51533.8	51891.8

Weekly Performance: 2.4%

The NIFTY FMCG index rose 2.4% for the week. Varun Beverages (11.9%) and Radico (5.9%) were the top gainers. Varun Beverages bounced back on multiple optimistic reports from brokers; after having corrected sharply on worries over increasing competition (from RIL’s Campa). The rally amongst FMCG stocks was broadbased, as indicated by a bullish ADR of 4x. Among the key underperformers were United Breweries (-1.2%), P&G (-0.3%), and TATA Consumer (-0.2%).

 

NIFTY IT

＄NIFTY IT – FII selling and INR appreciation stem the rally.

date	open	high	low	close
2025-03-03	37408.6	37930.1	37369.7	37614.4
2025-03-04	37228.8	37537.2	36797.4	37276.9
2025-03-05	37287.2	38381.8	37287.2	38072.3
2025-03-06	38226.1	38347.1	37912.0	38145.3
2025-03-07	38028.1	38048.4	37625.1	37820.4

Weekly Performance: 1.4%

The NIFTY IT index closed the week with a 1.3% gain. It underperformed the broader NIFTY 50 index. Continued FII selling and a modest appreciation of INR during the week were the key headwinds. L&T Technology Services (6.4%), Coforge (4.7%), TCS (3.7%), Wipro (2.6%), and Mphasis (2.4%) were among the top gainers. On the other hand, heavyweights – HCL Tech (-1.1%) and Infosys (-0.1%) were the key underperformers. Macro worries over a worsening trade war and FII outflows continue to be the key concerns for the sector.

 

NIFTY PHARMA

＄NIFTY PHARMA – Broadbased rally as key pharma stocks bounce back

date	open	high	low	close
2025-03-03	19764.2	19908.9	19633.9	19879.8
2025-03-04	19795.2	19884.9	19635.2	19820.7
2025-03-05	19761.6	20149.7	19713.1	20126.8
2025-03-06	20293.6	20457.0	20200.4	20423.3
2025-03-07	20458.6	20509.7	20327.8	20378.3

Weekly Performance: 2.8%

The NIFTY Pharma index closed the week with a 2.9% gain. Its performance was inline with that of NIFTY 50. In addition to a broadbased rally, strong performance from Biocon (+10.3%), Glenmark (+9.8%), and Laurus Labs (+8.3%) contributed to its performance. Concerns over tariffs from US on Indian pharmaceutical exports are the key headwind for the space.

 

NIFTY REALTY

＄NIFTY REALTY – A strong relief rally

date	open	high	low	close
2025-03-03	798.2	810.8	783.0	808.0
2025-03-04	798.1	815.4	785.9	808.8
2025-03-05	806.3	830.0	806.3	827.5
2025-03-06	835.7	840.2	824.3	826.2
2025-03-07	828.8	835.5	813.8	816.3

Weekly Performance: 2.3%

The NIFTY REALTY index surged 2.3% for the week. The rally was broadbased. Key players such as Mahindra Lifespace (+8.4%),  DLF (+4.9%), and Sobha (+3.4%) were the key gainers. NIFTY Realty Index has corrected nearly 30% from its December peak and is among the worst performing indices. Key concerns that have impacted realty stocks include a slowdown in new launches and increasing inventory levels.