Weekly Musings – Index performance for week ended August 22, 2025

26 Aug 2025 , 01:21 PM

FPIs were net sellers in equities worth $(122) Million this week. During the week, the VIX tapered from 12.36 to 11.73 levels; even touching a low of 10.70 on sovereign upgrade by S&P Ratings. Core sector growth and RBI MPC minutes hint at another 25 bps rate cut.

BSE SENSEX 30 INDEX – SOVEREIGN UPGRADE HELPS MARKETS

Date	Open	High	Low	Close
22-Aug-25	81,951.48	81,993.61	81,291.77	81,306.85
21-Aug-25	82,220.46	82,231.17	81,921.22	82,000.71
20-Aug-25	81,671.47	81,985.62	81,494.50	81,857.84
19-Aug-25	81,319.11	81,755.88	81,315.44	81,644.39
18-Aug-25	81,315.79	81,765.77	81,202.42	81,273.75
14-Aug-25	80,625.28	80,751.18	80,489.86	80,597.66
		Weekly Returns		+0.88%

Data Source: BSE

For the week, Sensex rallied +709 points or +0.88%. Sensex rallied for the first 4 days of the week on improved sentiments post the sovereign upgrade. Sensex touched a weekly high of 81,994 and a low of 81,202; displaying strength amidst uncertain macros.

NIFTY 50 INDEX – SUBDUED FPI SELLING HELPS THE NIFTY

Date	Open	High	Low	Close
22-Aug-25	25,064.15	25,084.85	24,859.15	24,870.10
21-Aug-25	25,142.00	25,153.65	25,054.90	25,083.75
20-Aug-25	24,965.80	25,088.70	24,929.70	25,050.55
19-Aug-25	24,891.35	25,012.65	24,873.95	24,980.65
18-Aug-25	24,938.20	25,022.00	24,852.85	24,876.95
14-Aug-25	24,607.25	24,673.65	24,596.90	24,631.30
		Weekly Returns		+0.97%

Data Source: NSE

For the week, FPIs were net sellers of $(122) Million, which is relatively small. Nifty rallied +239 points or +0.97%, as the rating upgrade had a positive rub-off effect on indices. Nifty touched a weekly high of 25,154 and low of 24,853.

NIFTY MID-CAP 100 INDEX – DOES BETTER THAN FRONTLINE INDICES

Date	Open	High	Low	Close
22-Aug-25	57,759.10	57,868.65	57,577.65	57,629.75
21-Aug-25	58,112.20	58,204.25	57,681.70	57,708.95
20-Aug-25	57,684.45	58,009.50	57,529.25	57,930.50
19-Aug-25	57,250.65	57,697.50	56,923.15	57,664.65
18-Aug-25	57,105.90	57,451.50	57,037.15	57,113.15
14-Aug-25	56,843.35	56,928.30	56,370.80	56,504.25
		Weekly Returns		+1.99%

Data Source: NSE

Nifty Mid Cap index  rallied sharply during the week as the rating upgrade brought confidence in mid-sized stocks. Nifty Mid-cap touched a weekly high of 58,204 and low of 56,923. The mid-cap index made higher highs and higher lows in the week.

NIFTY SMALL CAP 100 INDEX – ALPHA HUNTING MAKES A COMEBACK

Date	Open	High	Low	Close
22-Aug-25	17,969.70	17,996.30	17,876.10	17,919.50
21-Aug-25	18,032.00	18,106.20	17,953.30	17,966.35
20-Aug-25	17,951.15	17,983.75	17,865.10	17,968.40
19-Aug-25	17,833.25	17,923.70	17,757.50	17,914.30
18-Aug-25	17,773.15	17,827.35	17,666.90	17,790.40
14-Aug-25	17,653.05	17,708.05	17,525.35	17,547.45
		Weekly Returns		+2.12%

Data Source: NSE

This week, Nifty Small Cap Index rallied by +2.12%, the best among generic indices. The rally looked more convincing this week. Nifty Small-cap index touched a weekly high of 18,106 and a low of 17,667; again, closing near to the high point of the week.

BANK NIFTY INDEX – NIM STORY PUTS PRESSURE ON BANKS

Date	Open	High	Low	Close
22-Aug-25	55,669.25	55,745.00	55,102.60	55,149.40
21-Aug-25	55,972.05	55,993.65	55,708.20	55,755.45
20-Aug-25	55,751.50	55,812.60	55,577.35	55,698.50
19-Aug-25	55,622.30	55,965.55	55,608.15	55,865.15
18-Aug-25	55,940.60	56,156.30	55,647.65	55,734.90
14-Aug-25	55,102.55	55,472.80	55,074.30	55,341.85
		Weekly Returns		-0.35%

Data Source: NSE

For the week, Nifty Bank edged lower by -193 points or -0.35%, as most banks felt the pressure of narrowing NIMs in Q1FY26. Bank Nifty touched weekly high of 55,994 and low of 55,577. However, the Bank Nifty remained in a very narrow range.

NIFTY IT INDEX – RALLIES FOR SECOND WEEK IN A ROW

Date	Open	High	Low	Close
22-Aug-25	35,735.45	35,767.15	35,415.40	35,440.85
21-Aug-25	35,918.80	35,922.55	35,461.45	35,723.90
20-Aug-25	34,647.20	35,773.65	34,647.20	35,690.05
19-Aug-25	34,618.85	34,825.30	34,549.05	34,756.70
18-Aug-25	35,152.70	35,158.70	34,514.00	34,634.95
14-Aug-25	34,732.25	35,332.20	34,732.25	34,833.20
		Weekly Returns		+1.74%

Data Source: NSE

The IT index has bounced over 3% in last 2 weeks, after falling nearly -13.9% in the 5 weeks prior to that. The IT Index touched a weekly high of 35,923 and a low of 34,514. Mid-cap IT continues to do much better than large cap IT, post the Q1FY26 results.

NIFTY OIL & GAS INDEX – ENDS HIGHER AS CRUDE RALLIES

Date	Open	High	Low	Close
22-Aug-25	11,201.85	11,214.15	11,119.35	11,126.10
21-Aug-25	11,229.10	11,288.10	11,205.50	11,219.15
20-Aug-25	11,165.35	11,229.70	11,164.15	11,186.05
19-Aug-25	11,045.55	11,207.80	11,044.80	11,200.35
18-Aug-25	11,087.65	11,090.90	10,966.15	11,017.45
14-Aug-25	11,109.55	11,134.55	10,985.65	10,997.35
		Weekly Returns		+1.17%

Data Source: NSE

For the week, Nifty Oil & Gas Index rallied by +1.17%. Brent rallied in the week over Russia supply concerns, which helped upstream companies. With India likely to continue buying oil from Russia, no major disruptions in Russian oil supply are anticipated.

NIFTY FMCG INDEX – SAFE HAVEN BUYING IS BACK IN FMCG

Date	Open	High	Low	Close
22-Aug-25	56,303.60	56,429.00	55,694.40	55,737.45
21-Aug-25	56,713.30	56,719.80	56,204.85	56,303.05
20-Aug-25	55,854.40	56,786.65	55,675.75	56,664.05
19-Aug-25	55,382.10	55,966.40	55,154.70	55,886.65
18-Aug-25	55,379.80	55,775.40	55,223.90	55,304.25
14-Aug-25	55,089.05	55,139.55	54,573.75	54,656.30
		Weekly Returns		+1.98%

Data Source: NSE

After a small correction last week, FMCG index bounced sharply by 1.98% this week. Urban demand concerns are there, but is improving. Nifty FMCG Index touched a weekly high of 56,787 and low of 55,155 levels, as safe haven funds parked money in FMCG.