Weekly Musings – Index performance for week ended August 29, 2025

1 Sep 2025 , 02:24 PM

FPIs were net sellers in equities worth $(1,478) Million this week. During the week, the VIX tapered from 12.18 to 11.75 levels; even touching a low of 11.59, despite the penal tariffs being effective. GDP and IIP numbers flattered during the week.

BSE SENSEX 30 INDEX – TARIFF JITTERS SPOOK THE SENSEX

Date	Open	High	Low	Close
29-Aug-25	80,010.83	80,310.74	79,741.76	79,809.65
28-Aug-25	80,754.66	80,775.71	80,013.02	80,080.57
27-Aug-25	81,377.39	81,450.28	80,685.98	80,786.54
26-Aug-25	81,377.39	81,450.28	80,685.98	80,786.54
25-Aug-25	81,501.06	81,799.06	81,364.86	81,635.91
22-Aug-25	81,951.48	81,993.61	81,291.77	81,306.85
		Weekly Returns		-1.84%

Data Source: BSE

For the week, Sensex fell by -1,497 points or -1.84%. Most of the sell-off came in the last two days of the week after the tariffs became effective. Sensex touched a weekly high of 81,799 and a low of 79,742; closing very near to the weekly lows.

NIFTY 50 INDEX – FPI SENTIMENTS HITS THE MARKETS

Date	Open	High	Low	Close
29-Aug-25	24,466.70	24,572.45	24,404.70	24,426.85
28-Aug-25	24,695.80	24,702.65	24,481.60	24,500.90
27-Aug-25	24,899.50	24,919.65	24,689.60	24,712.05
26-Aug-25	24,899.50	24,919.65	24,689.60	24,712.05
25-Aug-25	24,949.15	25,021.55	24,894.35	24,967.75
22-Aug-25	25,064.15	25,084.85	24,859.15	24,870.10
		Weekly Returns		-1.78%

Data Source: NSE

For the week, FPIs were net sellers of $(1,478) Million, largely in the last 2 days. Nifty fell by -443 points or -1.78%, as FPIs sold off heavily on Thursday and Friday. Nifty touched a weekly high of 25,022 and low of 24,405.

NIFTY MID-CAP 100 INDEX – SELLING PRESSURE BUILDING UP

Date	Open	High	Low	Close
29-Aug-25	56,012.00	56,348.35	55,660.35	55,727.40
28-Aug-25	56,812.30	56,812.30	55,998.60	56,047.50
27-Aug-25	57,508.25	57,585.75	56,670.85	56,766.20
26-Aug-25	57,508.25	57,585.75	56,670.85	56,766.20
25-Aug-25	57,847.45	57,955.35	57,667.35	57,701.50
22-Aug-25	57,759.10	57,868.65	57,577.65	57,629.75
		Weekly Returns		-3.30%

Data Source: NSE

Nifty Mid Cap index bucked its rising trend during the week as the tariffs becoming effective spooked the mid-sized stocks. Nifty Mid-cap touched a weekly high of 57,955 and low of 55,660. The mid-cap index made lower highs and lower lows in the week.

NIFTY SMALL CAP 100 INDEX – ALPHA HUNTING TAKES A BACK SEAT

Date	Open	High	Low	Close
29-Aug-25	17,301.50	17,405.05	17,209.75	17,227.00
28-Aug-25	17,533.45	17,535.95	17,280.45	17,294.35
27-Aug-25	17,889.35	17,897.20	17,523.90	17,548.60
26-Aug-25	17,889.35	17,897.20	17,523.90	17,548.60
25-Aug-25	17,976.40	18,021.35	17,898.90	17,911.55
22-Aug-25	17,969.70	17,996.30	17,876.10	17,919.50
		Weekly Returns		-3.86%

Data Source: NSE

This week, Nifty Small Cap Index fell sharply by -3.86%, the worst hit among generic indices. Amid the global uncertainty, alpha hunting took a back seat. Nifty Small-cap index touched a weekly high of 18,021 and a low of 17,210; closing near to the low point of the week.

BANK NIFTY INDEX – LEADING THE MACRO INDICES LOWER

Date	Open	High	Low	Close
29-Aug-25	53,660.35	54,086.00	53,606.45	53,655.65
28-Aug-25	54,256.00	54,382.25	53,768.45	53,820.35
27-Aug-25	54,999.05	55,068.90	54,396.10	54,450.45
26-Aug-25	54,999.05	55,068.90	54,396.10	54,450.45
25-Aug-25	55,147.75	55,306.00	55,048.40	55,139.30
22-Aug-25	55,669.25	55,745.00	55,102.60	55,149.40
		Weekly Returns		-2.71%

Data Source: NSE

For the week, Nifty Bank fell by -1,494 points or -2.71%, as most banks felt the pressure of narrowing NIMs in Q1FY26 and emerging NPA risks. Bank Nifty touched weekly high of 55,306 and low of 53,606. The fall was much sharper than the Nifty 50 index.

NIFTY IT INDEX – GLOBAL SPILLOVER, BUT NOT SO MUCH

Date	Open	High	Low	Close
29-Aug-25	35,491.60	35,575.20	35,130.35	35,181.25
28-Aug-25	36,017.15	36,018.95	35,444.20	35,488.75
27-Aug-25	36,106.80	36,324.30	35,998.95	36,063.20
26-Aug-25	36,106.80	36,324.30	35,998.95	36,063.20
25-Aug-25	35,795.50	36,445.30	35,795.50	36,280.05
22-Aug-25	35,735.45	35,767.15	35,415.40	35,440.85
		Weekly Returns		-0.73%

Data Source: NSE

After bouncing 3% in last 2 weeks, the IT index edged lower by -0.73% in the latest week. The IT Index touched a weekly high of 36,445 and a low of 35,130. Mid-cap IT continues to do much better than large cap IT, which is not showing up in the index.

NIFTY OIL & GAS INDEX – FALLS ON RUSSIAN OIL UNCERTAINTY

Date	Open	High	Low	Close
29-Aug-25	10,881.60	10,935.55	10,766.15	10,789.75
28-Aug-25	10,980.40	10,982.95	10,859.85	10,900.00
27-Aug-25	11,109.40	11,137.90	10,930.10	10,949.55
26-Aug-25	11,109.40	11,137.90	10,930.10	10,949.55
25-Aug-25	11,150.85	11,155.05	11,099.65	11,132.00
22-Aug-25	11,201.85	11,214.15	11,119.35	11,126.10
		Weekly Returns		-3.02%

Data Source: NSE

For the week, Nifty Oil & Gas Index fell sharply by -3.02%. Brent stocks were flat, but most oil stocks fell on Russian oil buying uncertainty, amid penal tariffs. While India is confident about continuing Russian oil purchases, it could have broader repercussions.

NIFTY FMCG INDEX – STOOD OUT IN A DULL WEEK

Date	Open	High	Low	Close
29-Aug-25	55,687.25	56,565.00	55,594.45	56,141.85
28-Aug-25	56,595.50	56,595.50	55,521.30	55,612.95
27-Aug-25	55,580.30	56,425.15	55,578.10	56,187.00
26-Aug-25	55,580.30	56,425.15	55,578.10	56,187.00
25-Aug-25	55,879.40	55,894.05	55,541.00	55,681.65
22-Aug-25	56,303.60	56,429.00	55,694.40	55,737.45
		Weekly Returns		+0.73%

Data Source: NSE

After bouncing by 1.98% last week, the FMCG index bounced was up another 0.73% this week. FMCG clearly emerged as a defensive domestic play. Nifty FMCG Index touched a weekly high of 56,596 and low of 55,521 levels, as it was confined in a narrow range.