Weekly Musings – Index performance for week ended April 18, 2025

21 Apr 2025 , 10:44 AM

The week saw FPIs net buying in equities to the tune of $990 Million. VIX, which had spiked in the previous week to 23.19 levels, tapered to 15.47 this week. Even as the dollar index (DXY) stayed below 100, the markets celebrated a possible US-EU trade deal.

BSE SENSEX 30 INDEX – MARKETS JUMP ON TRADE DEAL HOPES

Date	Open	High	Low	Close
18-Apr-25	76,968.02	78,616.77	76,665.77	78,553.20
17-Apr-25	76,968.02	78,616.77	76,665.77	78,553.20
16-Apr-25	76,996.78	77,110.23	76,543.77	77,044.29
15-Apr-25	76,852.06	76,907.63	76,435.07	76,734.89
14-Apr-25	74,835.49	75,467.33	74,762.84	75,157.26
11-Apr-25	74,835.49	75,467.33	74,762.84	75,157.26
		Weekly Returns		+4.52%

Data Source: BSE

For the week April 18, 2025, Sensex gained +3.396 points or +4.52%. Sensex rallied frenetically on Tuesday and Thursday in a truncated week. Sensex touched a weekly high of 78,617 and a low of 74,763; as a likely US-EU trade deal enthused the markets overall.

NIFTY 50 INDEX – BANKING PROPELS NIFTY IN THE WEEK

Date	Open	High	Low	Close
18-Apr-25	23,401.85	23,872.35	23,298.55	23,851.65
17-Apr-25	23,401.85	23,872.35	23,298.55	23,851.65
16-Apr-25	23,344.10	23,452.20	23,273.05	23,437.20
15-Apr-25	23,368.35	23,368.35	23,207.00	23,328.55
14-Apr-25	22,695.40	22,923.90	22,695.40	22,828.55
11-Apr-25	22,695.40	22,923.90	22,695.40	22,828.55
		Weekly Returns		+4.48%

Data Source: NSE

With dollar index below the 100 mark, action shifted to domestic consumption service plays. For the week to April 18, 2025, Nifty gained +1,023 points or +4.48%, largely led by a rally in banks. Nifty touched a weekly high of 23,873 and a low of 22,685 this week.

NIFTY MID-CAP 100 INDEX – RALLIES ON SELECTIVE BUYING

Date	Open	High	Low	Close
18-Apr-25	52,286.35	52,736.35	52,061.80	52,657.80
17-Apr-25	52,286.35	52,736.35	52,061.80	52,657.80
16-Apr-25	52,090.05	52,371.75	51,946.65	52,345.55
15-Apr-25	51,391.90	52,054.80	51,100.80	51,974.45
14-Apr-25	50,516.00	50,641.90	50,088.60	50,501.50
11-Apr-25	50,516.00	50,641.90	50,088.60	50,501.50
		Weekly Returns		+4.27%

Data Source: NSE

Rate sensitives saw frenetic buying among the mid-caps. The good news is the mid-cap index sustaining above the 50,000 levels with conviction. Nifty Mid-cap touched weekly high of 52,736 and a low of 50,089; showing positive traction on all three days.

NIFTY SMALL-CAP 100 INDEX – LATCHES ON TO THE INDIA BANDWAGON

Date	Open	High	Low	Close
18-Apr-25	16,318.10	16,455.80	16,274.30	16,410.20
17-Apr-25	16,318.10	16,455.80	16,274.30	16,410.20
16-Apr-25	16,220.25	16,364.20	16,193.15	16,349.25
15-Apr-25	15,932.45	16,195.50	15,876.05	16,179.30
14-Apr-25	15,644.30	15,711.95	15,456.90	15,696.10
11-Apr-25	15,644.30	15,711.95	15,456.90	15,696.10
		Weekly Returns		+4.55%

Data Source: NSE

Even as Brent rallied, the weak dollar index gave a leg-up to the small cap stocks, which closed the week with 4.55% gains. Nifty Small-cap index touched weekly high of 16,456 and a low of 15,457; showing signs of retail investors returning to small cap buying.

BANK NIFTY INDEX – EMERGES THE DOMESTIC SERVICE EXEMPLAR

Date	Open	High	Low	Close
18-Apr-25	53,153.75	54,407.20	53,084.90	54,290.20
17-Apr-25	53,153.75	54,407.20	53,084.90	54,290.20
16-Apr-25	52,690.90	53,164.45	52,471.35	53,117.75
15-Apr-25	52,299.00	52,486.35	51,863.30	52,379.50
14-Apr-25	50,634.10	51,244.70	50,634.10	51,002.35
11-Apr-25	50,634.10	51,244.70	50,634.10	51,002.35
		Weekly Returns		+6.45%

Data Source: NSE

For the week to April 18, 2025, Nifty Bank rallied +3,288 points or +6.45%; as buying converged towards banks as a domestic services proxy. The Bank Nifty touched a weekly high of 54,407 and a low of 50,634; ending just 0.5% away from 52-week highs.

NIFTY IT INDEX – GAINS LIMITED BY DISAPPOINTING Q4 RESULTS

Date	Open	High	Low	Close
18-Apr-25	32,832.65	33,471.55	32,470.95	33,372.35
17-Apr-25	32,832.65	33,471.55	32,470.95	33,372.35
16-Apr-25	33,215.95	33,387.45	32,867.95	33,295.50
15-Apr-25	33,504.15	33,520.65	32,932.95	33,275.30
14-Apr-25	32,926.65	33,210.80	32,526.00	32,740.85
11-Apr-25	32,926.65	33,210.80	32,526.00	32,740.85
		Weekly Returns		+1.93%

Data Source: NSE

For the week to April 18, 2025, Nifty IT Index was up just 632 points or +1.93%, as weak dollar and tepid Q4 results of bellwethers remained an overhang. The IT Index touched a weekly high of 33,521 and a low of 32,471, making a low on the last day of the week.

NIFTY OIL & GAS INDEX – UPSTREAM LEADS THE OIL SECTOR RALLY

Date	Open	High	Low	Close
18-Apr-25	10,558.65	10,716.85	10,479.75	10,692.20
17-Apr-25	10,558.65	10,716.85	10,479.75	10,692.20
16-Apr-25	10,388.15	10,577.60	10,371.45	10,562.05
15-Apr-25	10,453.40	10,453.55	10,368.75	10,423.50
14-Apr-25	10,214.80	10,282.65	10,140.05	10,262.55
11-Apr-25	10,214.80	10,282.65	10,140.05	10,262.55
		Weekly Returns		+4.19%

Data Source: NSE

For the week to April 18, 2025, Nifty Oil & Gas Index was up +430 points or +4.19%. Upstream oil gained from the 5% crude rally. The Oil & Gas Index touched a weekly high of 10,717 and a low of 10,140, as Reliance led the rally in the oil & gas index.

NIFTY AUTO INDEX – SEES DOMESTIC PROXY DEMAND AT PLAY

Date	Open	High	Low	Close
18-Apr-25	21,152.00	21,414.60	20,953.10	21,373.10
17-Apr-25	21,152.00	21,414.60	20,953.10	21,373.10
16-Apr-25	21,280.35	21,283.10	21,058.60	21,155.80
15-Apr-25	21,023.95	21,276.30	20,929.75	21,246.20
14-Apr-25	20,493.05	20,637.95	20,432.30	20,548.65
11-Apr-25	20,493.05	20,637.95	20,432.30	20,548.65
		Weekly Returns		+4.01%

Data Source: NSE

For the week to April 18, 2025, Nifty Auto Index gained +825 points or +4.02%. After falling sharply post the auto tariffs, the sector rallied on the pause and as a domestic demand play. Nifty Auto Index touched a weekly high of 21,415 and a low of 20,432 levels.

NIFTY FMCG INDEX – DISPLAYS A CAUTIOUS RALLY IN THE WEEK

Date	Open	High	Low	Close
18-Apr-25	56,303.15	56,728.30	56,008.65	56,674.20
17-Apr-25	56,303.15	56,728.30	56,008.65	56,674.20
16-Apr-25	55,694.65	56,435.95	55,694.65	56,345.60
15-Apr-25	56,620.05	56,620.50	55,537.15	55,896.95
14-Apr-25	55,939.55	55,960.50	55,234.15	55,741.10
11-Apr-25	55,939.55	55,960.50	55,234.15	55,741.10
		Weekly Returns		+1.67%

Data Source: NSE

For the week to April 18, 2025, FMCG index saw subdued gains of +1.67%. Amidst the global tariff uncertainty, the India-oriented FMCG stocks remained a preferred proxy for domestic demand. Nifty FMCG Index touched a weekly high of 56,728 and a low of 55,234 levels.

NIFTY HEALTHCARE INDEX – PHARMA MAKES A CAUTIOUS START

Date	Open	High	Low	Close
18-Apr-25	13,559.50	13,736.05	13,545.05	13,711.05
17-Apr-25	13,559.50	13,736.05	13,545.05	13,711.05
16-Apr-25	13,546.30	13,619.35	13,491.90	13,553.50
15-Apr-25	13,557.55	13,602.80	13,458.60	13,577.35
14-Apr-25	13,425.45	13,495.90	13,284.25	13,326.65
11-Apr-25	13,425.45	13,495.90	13,284.25	13,326.65
		Weekly Returns		+2.88%

Data Source: NSE

For the week to April 18, 2025, Nifty Healthcare Index rallied +384 points or +2.88%. Pharma tariff uncertainty continues; but markets are betting on Plan-B being put into action. The Healthcare Index touched a weekly high of 13,736 and a low of 13,284, in the week.