Weekly Musings – Index performance for week ended February 21, 2025

24 Feb 2025 , 02:29 PM

The week saw FPI selling of $283 Million, taking the cumulative FPI selling in equities in the last 7 weeks to $11.3 Billion. VIX tapered to 14.53 levels; although FPI flows, dollar strength, and Trump tariffs are the real concerns for the market.

BSE SENSEX 30 INDEX – WEEK OF SUBDUED SELL-OFF

Date	Open	High	Low	Close
21-Feb-25	75,612.61	75,748.72	75,112.41	75,311.06
20-Feb-25	75,672.84	75,794.15	75,463.01	75,735.96
19-Feb-25	75,787.27	76,338.58	75,581.38	75,939.18
18-Feb-25	76,073.71	76,091.69	75,531.01	75,967.39
17-Feb-25	75,641.41	76,041.96	75,294.76	75,996.86
14-Feb-25	76,388.99	76,483.06	75,439.64	75,939.21
		Weekly Returns		-0.83%

Data Source: BSE

For the week February 21, 2025, Sensex fell -628 points or -0.83%. The sharp correction was despite a relatively positive Union Budget and Monetary Policy. Sensex touched a weekly high of 76,339 and a low of 75,112; with most of the correction in last 2 days of the week.

NIFTY 50 INDEX – CONSUMER STOCKS AND DOLLAR PLAYS UNDER PRESSURE

Date	Open	High	Low	Close
21-Feb-25	22,857.20	22,921.00	22,720.30	22,795.90
20-Feb-25	22,821.10	22,923.85	22,812.75	22,913.15
19-Feb-25	22,847.25	23,049.95	22,814.85	22,932.90
18-Feb-25	22,963.65	22,992.50	22,801.50	22,945.30
17-Feb-25	22,809.90	22,974.20	22,725.45	22,959.50
14-Feb-25	23,096.45	23,133.70	22,774.85	22,929.25
		Weekly Returns		-0.58%

Data Source: NSE

Nifty fell sharply as consumer stocks, IT, and healthcare took it on the chin. For the week to February 21, 2025, Nifty fell -133 points or -0.58%; as even a counter-cyclical budget did not help much. Nifty touched a weekly high of 23,050 and a low of 22,720.

NIFTY MID-CAP 100 INDEX – SOME SIGNS OF GREEN SHOOTS

Date	Open	High	Low	Close
21-Feb-25	51,099.75	51,555.55	50,308.70	50,486.20
20-Feb-25	50,405.15	51,214.50	50,195.90	51,163.80
19-Feb-25	49,485.80	50,609.25	49,214.55	50,527.25
18-Feb-25	49,906.55	49,982.10	49,120.80	49,751.45
17-Feb-25	49,281.25	49,922.20	48,503.45	49,849.85
14-Feb-25	51,074.30	51,159.25	49,139.85	49,654.15
		Weekly Returns		+1.68%

Data Source: NSE

For the week to February 21, 2025, Nifty Mid Cap 100 closed +832 points higher or +1.68%. Buying in mid-caps was focused on PSUs and financial inclusion stocks. Nifty Mid-cap touched weekly high of 51,556 and a low of 49,120; closing just above the 50,000 mark.

NIFTY SMALL-CAP 100 INDEX – RECOUPS SOME OF ITS LOSSES

Date	Open	High	Low	Close
21-Feb-25	15,730.40	15,982.05	15,566.05	15,636.90
20-Feb-25	15,474.50	15,768.05	15,417.20	15,747.70
19-Feb-25	15,058.00	15,579.15	14,976.30	15,525.90
18-Feb-25	15,422.00	15,452.80	15,038.40	15,168.45
17-Feb-25	15,291.95	15,512.45	15,044.40	15,413.10
14-Feb-25	16,013.45	16,033.00	15,254.10	15,407.20
		Weekly Returns		+1.49%

Data Source: NSE

For the week to February 21, 2025, Nifty Small Cap 100 was up 230 points or +1.49%; a small consolation after the 9.4% sell-off last week. It will take some time for confidence to come back. Nifty Small-cap touched a weekly high of 15,982 and a low of 14,976.

BANK NIFTY INDEX – PSU BANKS SAVE THE BLUSHES

Date	Open	High	Low	Close
21-Feb-25	49,127.95	49,306.55	48,764.00	48,981.20
20-Feb-25	49,314.10	49,455.80	49,150.95	49,334.55
19-Feb-25	48,895.35	49,628.25	48,804.00	49,570.10
18-Feb-25	49,211.85	49,328.55	48,814.95	49,087.30
17-Feb-25	48,880.40	49,319.00	48,525.60	49,258.90
14-Feb-25	49,485.65	49,592.95	48,719.75	49,099.45
		Weekly Returns		-0.24%

Data Source: NSE

For the week to February 21, 2025, Nifty Bank fell by -118 points or -0.24%; as PSU banks rallied on a smart performance in Q3FY25. There was also some value driven buying in private banks. The Bank Nifty touched a weekly high of 49,628 and a low of 48,526.

NIFTY IT INDEX – DOLLAR WEAKNESS IMPACTS IT STOCKS

Date	Open	High	Low	Close
21-Feb-25	40,821.65	40,905.40	40,417.45	40,544.50
20-Feb-25	40,725.40	41,004.85	40,701.10	40,865.95
19-Feb-25	41,373.50	41,403.25	40,785.05	40,924.25
18-Feb-25	41,097.45	41,530.30	41,039.25	41,464.35
17-Feb-25	40,968.80	41,254.90	40,592.50	41,073.20
14-Feb-25	41,547.05	41,606.75	40,958.00	41,311.15
		Weekly Returns		-1.86%

Data Source: NSE

For the week to February 21, 2025, Nifty IT Index fell sharply by 767 points or -1.86%, offsetting gains of last few weeks. Dollar strength is not helping IT stocks. The IT Index touched a weekly high of 41,530 and a low of 40,417.

NIFTY OIL & GAS INDEX – STAR PERFORMER FOR THE WEEK

Date	Open	High	Low	Close
21-Feb-25	10,158.85	10,235.80	10,034.55	10,074.20
20-Feb-25	10,008.40	10,195.10	9,995.70	10,181.40
19-Feb-25	9,911.40	10,060.00	9,881.25	10,045.60
18-Feb-25	9,917.85	9,987.75	9,802.35	9,972.05
17-Feb-25	9,809.55	9,937.50	9,674.35	9,921.10
14-Feb-25	10,025.80	10,054.45	9,740.40	9,852.20
		Weekly Returns		+2.25%

Data Source: NSE

For the week to February 21, 2025, Oil & Gas Index rose by 222 points or 2.25%. Steady crude prices has raised hopes that GRMs in refining should improve. Nifty Oil & Gas Index touched a weekly high of 10,236 and a low of 9,674 levels.

NIFTY AUTO INDEX – CONSUMPTION STOCKS TAKE A HIT

Date	Open	High	Low	Close
21-Feb-25	21,973.95	22,010.85	21,435.50	21,505.90
20-Feb-25	21,751.35	22,092.80	21,562.80	22,074.90
19-Feb-25	21,683.65	21,898.05	21,597.10	21,809.15
18-Feb-25	21,973.70	21,997.05	21,638.55	21,818.90
17-Feb-25	22,012.80	22,012.95	21,610.15	21,951.85
14-Feb-25	22,428.25	22,487.50	21,874.55	22,069.30
		Weekly Returns		-2.55%

Data Source: NSE

For the week to February 21, 2025, Nifty Auto Index fell by 563 points or -2.55%. Despite counter-cyclical measures in budget, consumption segment is not enthused. Nifty Auto Index touched a weekly high of 22,093 and a low of 21,436 levels.

NIFTY FMCG INDEX – LOSES OVER 11% SINCE BUDGET DAY

Date	Open	High	Low	Close
21-Feb-25	52,362.40	52,443.50	51,893.25	52,098.15
20-Feb-25	52,035.25	52,379.15	51,905.30	52,337.30
19-Feb-25	52,346.70	52,606.60	52,096.20	52,360.45
18-Feb-25	52,897.55	53,104.00	52,383.85	52,480.50
17-Feb-25	53,011.75	53,080.10	52,644.75	52,945.00
14-Feb-25	53,444.70	53,912.60	52,993.35	53,138.55
		Weekly Returns		-1.96%

Data Source: NSE

For the week to February 21, 2025, FMCG index fell -1.96%, losing more than 11% since the budget day rally. There are concerns on urban demand and margins, amid rising input costs. Nifty FMCG Index touched a weekly high of 53,104 and a low of 51,893 levels.