Weekly Musings – Index performance for week ended April 11, 2025

15 Apr 2025 , 10:55 AM

The week saw FPIs net selling in equities to the tune of $(2,470) Million. VIX spiked from 13.76 levels to 20.11 levels this week; even touching a high of 23.19 on Monday. The 90-day pause in reciprocal tariffs had little impact, as the dollar index plummeted below 100 mark.

BSE SENSEX 30 INDEX – TRUMP TARIFFS SPOOK SENSEX

Date	Open	High	Low	Close
11-Apr-25	74,835.49	75,467.33	74,762.84	75,157.26
10-Apr-25	74,103.83	74,103.83	73,673.06	73,847.15
09-Apr-25	74,103.83	74,103.83	73,673.06	73,847.15
08-Apr-25	74,013.73	74,859.39	73,424.92	74,227.08
07-Apr-25	71,449.94	73,403.99	71,425.01	73,137.90
04-Apr-25	76,160.09	76,258.12	75,240.55	75,364.69
		Weekly Returns		-0.28%

Data Source: BSE

For the week April 11, 2025, Sensex lost -207 points or -0.28%. Despite the pause in tariffs, Sensex was in the red, before a late recovery on Friday. Sensex touched a weekly high of 75,467 and a low of 71,425; making sharply lower highs and lower lows in the week.

NIFTY 50 INDEX – IT SECTOR KEEPS NIFTY UNDER PRESSURE

Date	Open	High	Low	Close
11-Apr-25	22,695.40	22,923.90	22,695.40	22,828.55
10-Apr-25	22,460.30	22,468.70	22,353.25	22,399.15
09-Apr-25	22,460.30	22,468.70	22,353.25	22,399.15
08-Apr-25	22,446.75	22,697.20	22,270.85	22,535.85
07-Apr-25	21,758.40	22,254.00	21,743.65	22,161.60
04-Apr-25	23,190.40	23,214.70	22,857.45	22,904.45
		Weekly Returns		-0.33%

Data Source: NSE

With the dollar index dipping below the psychological 100 mark, IT took a sharp dip. For the week to April 11, 2025, Nifty fell by -76 points or -0.33%, largely due to a sharp fall led by IT and banking. Nifty touched a weekly high of 22,924 and a low of 21,744 this week.

NIFTY MID-CAP 100 INDEX – ENDED A SUBDUED WEEK ABOVE 50,000

Date	Open	High	Low	Close
11-Apr-25	50,516.00	50,641.90	50,088.60	50,501.50
10-Apr-25	49,719.40	49,744.70	48,905.75	49,582.05
09-Apr-25	49,719.40	49,744.70	48,905.75	49,582.05
08-Apr-25	49,888.15	50,237.50	49,194.00	49,838.00
07-Apr-25	46,966.60	49,073.45	46,966.60	48,809.45
04-Apr-25	52,044.20	52,059.90	50,349.80	50,645.95
		Weekly Returns		-0.29%

Data Source: NSE

With the global uncertainty, there was really not much of room for alpha hunting. The good news is the mid-cap index closing above the 50,000 levels this week. Nifty Mid-cap touched weekly high of 50,642 and a low of 46,967; recovering from the sharp fall on Monday.

NIFTY SMALL-CAP 100 INDEX – SHOWS MINOR GAINS FOR THE WEEK

Date	Open	High	Low	Close
11-Apr-25	15,644.30	15,711.95	15,456.90	15,696.10
10-Apr-25	15,347.10	15,366.70	15,101.00	15,256.75
09-Apr-25	15,347.10	15,366.70	15,101.00	15,256.75
08-Apr-25	15,464.55	15,562.30	15,217.30	15,389.00
07-Apr-25	14,086.90	15,164.20	14,084.30	15,067.90
04-Apr-25	16,220.80	16,252.75	15,559.05	15,675.95
		Weekly Returns		+0.13%

Data Source: NSE

The small caps continued to remain in a grey zone, although there have been pockets of retail buying visible in these stocks. Nifty Small-cap touched weekly high of 15,712 and a low of 14,084; recovering fairly well after Black Monday.

BANK NIFTY INDEX – MACRO PRESSURE SHOWS UP ON BANKING

Date	Open	High	Low	Close
11-Apr-25	50,634.10	51,244.70	50,634.10	51,002.35
10-Apr-25	50,487.10	50,496.90	49,910.85	50,240.15
09-Apr-25	50,487.10	50,496.90	49,910.85	50,240.15
08-Apr-25	50,388.55	50,793.70	50,030.80	50,511.00
07-Apr-25	49,336.10	50,426.25	49,156.95	49,860.10
04-Apr-25	51,711.60	51,893.60	51,360.40	51,502.70
		Weekly Returns		-0.97%

Data Source: NSE

For the week to April 11, 2025, Nifty Bank fell -500 points or -0.97%; as global macro risks and lower rates put pressure on banks over NIM spread question. The Bank Nifty touched a weekly high of 51,245 and a low of 49,157; recovering gradually from Monday lows.

NIFTY IT INDEX – STRUGGLES TO RECOVER DURING THE WEEK

Date	Open	High	Low	Close
11-Apr-25	32,926.65	33,210.80	32,526.00	32,740.85
10-Apr-25	32,710.25	32,762.30	32,200.25	32,517.35
09-Apr-25	32,710.25	32,762.30	32,200.25	32,517.35
08-Apr-25	33,232.40	33,742.85	32,859.05	33,244.40
07-Apr-25	31,307.95	32,835.10	30,918.95	32,668.80
04-Apr-25	34,224.60	34,361.65	33,418.65	33,511.40
		Weekly Returns		-2.30%

Data Source: NSE

For the week to April 11, 2025, Nifty IT Index was down -771 points or -2.30%, as IT struggled to recover due to the dollar index dipping below 100 levels. The IT Index touched a weekly high of 33,743 and a low of 30,919, ending at the bottom for second week in a row.

NIFTY OIL & GAS INDEX – CRUDE FALL PUSHES UP REFINING STOCKS

Date	Open	High	Low	Close
11-Apr-25	10,214.80	10,282.65	10,140.05	10,262.55
10-Apr-25	10,019.10	10,076.45	9,921.15	10,041.25
09-Apr-25	10,019.10	10,076.45	9,921.15	10,041.25
08-Apr-25	9,990.55	10,124.50	9,862.45	10,068.35
07-Apr-25	9,475.80	9,918.75	9,445.95	9,851.50
04-Apr-25	10,529.35	10,543.25	10,064.95	10,134.10
		Weekly Returns		+1.27%

Data Source: NSE

For the week to April 11, 2025, Nifty Oil & Gas Index was up +129 points or +1.27%, as low crude prices promised to boost GRMs. The Oil & Gas Index touched a weekly high of 10,283 and a low of 9,446, with Reliance and other downstream players closing with gains.

NIFTY AUTO INDEX –TRUMP TARIFFS REMAIN THE OVERHANG

Date	Open	High	Low	Close
11-Apr-25	20,493.05	20,637.95	20,432.30	20,548.65
10-Apr-25	20,188.30	20,326.95	20,034.65	20,140.40
09-Apr-25	20,188.30	20,326.95	20,034.65	20,140.40
08-Apr-25	20,141.65	20,307.30	19,805.25	20,138.15
07-Apr-25	19,336.15	19,893.70	19,316.65	19,815.55
04-Apr-25	21,081.05	21,081.05	20,507.55	20,593.15
		Weekly Returns		-0.22%

Data Source: NSE

For the week to April 11, 2025, Nifty Auto Index fell -45 points or -0.22%. It began with the 25% Trump tariffs on cars and auto components, with the likes of JLR planning to take a tough stance. Nifty Auto Index touched a weekly high of 20,638 and a low of 19,317 levels.

NIFTY FMCG INDEX – DOMESTIC STORY FINALLY SHINES

Date	Open	High	Low	Close
11-Apr-25	55,939.55	55,960.50	55,234.15	55,741.10
10-Apr-25	54,365.25	55,412.20	54,280.85	55,264.75
09-Apr-25	54,365.25	55,412.20	54,280.85	55,264.75
08-Apr-25	53,800.05	54,531.40	53,557.35	54,300.25
07-Apr-25	51,201.90	53,395.45	51,201.90	53,241.15
04-Apr-25	53,603.70	54,223.35	53,310.00	53,830.70
		Weekly Returns		+3.55%

Data Source: NSE

For the week to April 11, 2025, FMCG index was the star closing +3.55% higher. Amidst the global tariff uncertainty, the India-oriented FMCG stocks stand out. Nifty FMCG Index touched a weekly high of 55,961 and a low of 51,202 levels.

NIFTY HEALTHCARE INDEX – PHARMA TARIFF UNCERTAINTY CONTINUES

Date	Open	High	Low	Close
11-Apr-25	13,425.45	13,495.90	13,284.25	13,326.65
10-Apr-25	13,088.50	13,206.50	12,984.70	13,126.30
09-Apr-25	13,088.50	13,206.50	12,984.70	13,126.30
08-Apr-25	13,164.80	13,344.00	13,137.70	13,264.25
07-Apr-25	12,575.75	13,166.80	12,565.40	13,048.90
04-Apr-25	13,861.10	13,863.00	13,140.40	13,426.80
		Weekly Returns		-0.75%

Data Source: NSE

For the week to April 11, 2025, Nifty Healthcare Index fell -100 points or -0.75%. Pharma was kept out of Trump’s reciprocal tariffs, but the uncertainty continues. The Healthcare Index touched a weekly high of 13,496 and a low of 12,565, recovering from Monday’s fall.