Weekly Musings – Index performance for week ended February 07, 2025

10 Feb 2025 , 09:18 AM

The week saw FPI selling of $841 Million, taking the cumulative FPI selling in equities in the last 5 weeks to $9.40 Billion. VIX fell further to 13.69 levels; although it is now the global factors and the Trump Tariffs that are really the big concerns for the market.

BSE SENSEX 30 INDEX – FLAT WEEK AFTER BUDGET CHEER

Date	Open	High	Low	Close
07-Feb-25	78,119.60	78,356.98	77,475.74	77,860.19
06-Feb-25	78,513.36	78,551.66	77,843.99	78,058.16
05-Feb-25	78,704.60	78,735.41	78,216.25	78,271.28
04-Feb-25	77,687.60	78,658.59	77,402.37	78,583.81
03-Feb-25	77,063.94	77,260.37	76,756.09	77,186.74
01-Feb-25	77,637.01	77,899.05	77,006.47	77,505.96
		Weekly Returns		+0.46%

Data Source: BSE

For the week February 07, 2025, Sensex rose +354 points or +0.46%. With the budget euphoria, the monetary policy rate cut gave some cheer to markets. Sensex touched a weekly high of 78,735 and a low of 76,756; making higher highs and higher lows.

NIFTY 50 INDEX – FMCG SPOILS THE NIFTY PARTY

Date	Open	High	Low	Close
07-Feb-25	23,649.50	23,694.50	23,443.20	23,559.95
06-Feb-25	23,761.95	23,773.55	23,556.25	23,603.35
05-Feb-25	23,801.75	23,807.30	23,680.45	23,696.30
04-Feb-25	23,509.90	23,762.75	23,423.15	23,739.25
03-Feb-25	23,319.35	23,381.60	23,222.00	23,361.05
01-Feb-25	23,528.60	23,632.45	23,318.30	23,482.15
		Weekly Returns		+0.33%

Data Source: NSE

Like the Sensex, Nifty also closed flat as FMCG played spoilsport as reality came back to bite. For the week to February 07, 2025, Nifty rallied +78 points or +0.33%; as the 25 bps rate cut by RBI gave some cheer. Nifty touched weekly high of 23,807 and a low of 23,222.

NIFTY MID-CAP 100 INDEX – REALLY, NO ALPHA HUNTING

Date	Open	High	Low	Close
07-Feb-25	53,557.55	53,909.40	53,032.65	53,609.15
06-Feb-25	54,417.30	54,454.25	53,370.70	53,500.85
05-Feb-25	54,058.10	54,535.75	54,040.15	54,180.85
04-Feb-25	53,372.50	53,894.25	53,274.75	53,813.80
03-Feb-25	53,099.40	53,214.60	52,495.30	52,988.80
01-Feb-25	53,953.55	54,162.55	52,744.30	53,486.15
		Weekly Returns		+0.23%

Data Source: NSE

For the week to February 07, 2025, Nifty Mid Cap 100 closed +126 points or +0.23%. While oil and the USDINR were stable, global concerns are too high. Nifty Mid-cap touched weekly high of 54,536 and a low of 52,495; although some recovery was visible.

NIFTY SMALL-CAP 100 INDEX – FLAT CLOSE IS NOT BAD

Date	Open	High	Low	Close
07-Feb-25	17,014.35	17,106.70	16,838.20	17,006.85
06-Feb-25	17,173.65	17,190.60	16,989.85	17,056.75
05-Feb-25	16,863.20	17,148.65	16,862.20	17,108.50
04-Feb-25	16,752.35	16,837.85	16,617.25	16,798.50
03-Feb-25	16,801.95	16,876.90	16,544.75	16,617.60
01-Feb-25	16,959.70	17,128.00	16,678.90	16,979.75
		Weekly Returns		+0.16%

Data Source: NSE

For the week to February 07, 2025, Nifty Small Cap 100 was up +27 points or +0.16%; gradually stabilizing in last 2 weeks. It will still take some time for confidence to return. Nifty Small-cap touched a weekly high of 17,191 and a low of 16,545.

BANK NIFTY INDEX – SOME GAINS ON RATE CUT NARRATIVE

Date	Open	High	Low	Close
07-Feb-25	50,484.45	50,641.75	49,871.15	50,158.85
06-Feb-25	50,468.35	50,553.35	50,149.80	50,382.10
05-Feb-25	50,402.30	50,522.15	50,215.45	50,343.05
04-Feb-25	49,538.80	50,206.60	49,482.50	50,157.95
03-Feb-25	49,074.80	49,373.45	48,906.05	49,210.55
01-Feb-25	49,592.55	50,009.50	48,925.45	49,506.95
		Weekly Returns		+1.32%

Data Source: NSE

For the week to February 07, 2025, Nifty Bank rallied +652 points or +1.32%; as the rate cuts were also factored into the prices of banks. NIMs are still under stress. The Bank Nifty touched a weekly high of 50,642 and a low of 48,906.

NIFTY IT INDEX – WEAK RUPEE HELPS IT STOCKS ALONG

Date	Open	High	Low	Close
07-Feb-25	43,106.15	43,133.35	42,623.45	42,921.65
06-Feb-25	43,197.30	43,431.80	42,838.15	43,020.95
05-Feb-25	43,060.65	43,250.75	42,818.10	42,888.30
04-Feb-25	42,642.75	42,931.10	42,407.35	42,860.20
03-Feb-25	41,592.20	42,375.25	41,328.25	42,314.25
01-Feb-25	42,680.80	42,855.95	41,938.05	42,030.30
		Weekly Returns		+2.12%

Data Source: NSE

For the week to February 07, 2025, Nifty IT Index spiked by +891 points or +2.12%, recouping the losses of last week. The weak rupee and strong dollar left IT as the sole dollar defensive. IT Index touched a weekly high of 43,432 and a low of 41,328.

NIFTY OIL & GAS INDEX – STOCKS GAIN AMIDST FLAT CRUDE PRICES

Date	Open	High	Low	Close
07-Feb-25	10,559.95	10,598.45	10,445.90	10,498.95
06-Feb-25	10,660.90	10,717.50	10,529.40	10,594.65
05-Feb-25	10,558.75	10,677.00	10,554.35	10,634.85
04-Feb-25	10,287.15	10,489.70	10,285.95	10,481.65
03-Feb-25	10,330.25	10,341.50	10,131.25	10,206.25
01-Feb-25	10,579.80	10,608.70	10,309.85	10,438.20
		Weekly Returns		+0.58%

Data Source: NSE

For the week to February 07, 2025, Oil & Gas Index rose by +61 points or +0.58%. Reliance and other oil companies, gained from stable crude prices, promising better GRMs. Nifty Oil & Gas Index touched a weekly high of 10,718 and a low of 10,131 levels.

NIFTY AUTO INDEX – CONSUMPTION HOPES STILL HIGH

Date	Open	High	Low	Close
07-Feb-25	23,407.45	23,545.20	23,193.35	23,459.95
06-Feb-25	23,548.25	23,587.85	23,264.15	23,298.85
05-Feb-25	23,551.25	23,646.30	23,410.50	23,517.10
04-Feb-25	23,607.50	23,800.90	23,366.90	23,535.05
03-Feb-25	23,299.75	23,370.90	23,096.10	23,327.00
01-Feb-25	22,926.20	23,519.70	22,727.65	23,305.45
		Weekly Returns		+0.66%

Data Source: NSE

For the week to February 07, 2025, Nifty Auto Index rallied by +155 points or +0.66%. The budget demand boost and the RBI rate cut could make vehicles more affordable. Nifty Auto Index touched a weekly high of 23,801 and a low of 23,096 levels.

NIFTY FMCG INDEX – AFTER THE EUPHORIA, COMES THE REALITY CHECK

Date	Open	High	Low	Close
07-Feb-25	55,904.00	56,140.65	54,822.05	55,113.30
06-Feb-25	56,592.90	56,607.35	55,646.50	55,841.80
05-Feb-25	57,339.10	57,392.25	56,311.50	56,383.75
04-Feb-25	57,701.85	57,793.70	56,859.65	57,274.70
03-Feb-25	58,276.30	58,475.10	57,110.30	57,419.55
01-Feb-25	56,818.10	59,302.55	56,051.95	58,396.05
		Weekly Returns		-5.62%

Data Source: NSE

For the week to February 07, 2025, FMCG index cracked -5.62%, as the budget euphoria faded and the reality of weak rural and urban demand came back to haunt. It now looks like status quo on the FMCG index. Nifty FMCG Index touched a weekly high of 58,475 and a low of 54,822 levels. Clearly, demand stress is not going away in a hurry!