Weekly Musings – Index performance for week ended February 28, 2025

3 Mar 2025 , 11:27 AM

The week saw FPI selling of $1,253 Million, taking the cumulative FPI selling in equities in the last 8 weeks to $12.6 Billion. VIX tapered to 13.49 levels; although FPI flows, dollar strength, Trump tariffs, and breakdown of Ukraine talks are the real market concerns.

BSE SENSEX 30 INDEX – THE SELL-OFF JUST CONTINUES

Date	Open	High	Low	Close
28-Feb-25	74,201.77	74,282.43	73,141.27	73,198.10
27-Feb-25	74,706.60	74,834.09	74,520.78	74,612.43
26-Feb-25	74,440.30	74,785.08	74,400.37	74,602.12
25-Feb-25	74,440.30	74,785.08	74,400.37	74,602.12
24-Feb-25	74,893.45	74,907.04	74,387.44	74,454.41
21-Feb-25	75,612.61	75,748.72	75,112.41	75,311.06
		Weekly Returns		-2.81%

Data Source: BSE

For the week February 28, 2025, Sensex fell -2,113 points or -2.81%. The sharp correction was despite positive GDP and core sector data this week. Sensex touched a weekly high of 74,907 and a low of 73,141; correcting sharply on the last day of the week.

NIFTY 50 INDEX – IT, OIL PULL THE NIFTY LOWER

Date	Open	High	Low	Close
28-Feb-25	22,433.40	22,450.35	22,104.85	22,124.70
27-Feb-25	22,568.95	22,613.30	22,508.40	22,545.05
26-Feb-25	22,516.45	22,625.30	22,513.90	22,547.55
25-Feb-25	22,516.45	22,625.30	22,513.90	22,547.55
24-Feb-25	22,609.35	22,668.05	22,518.80	22,553.35
21-Feb-25	22,857.20	22,921.00	22,720.30	22,795.90
		Weekly Returns		-2.94%

Data Source: NSE

Nifty fell sharply as IT, oil, and auto stocks fell vertically. For the week to February 28, 2025, Nifty fell -671 points or -2.94%; as better than expected GDP data did not help much. Nifty touched a weekly high of 22,606 and a low of 22,104.

NIFTY MID-CAP 100 INDEX – NO SIGNS OF ALPHA HUNTING THIS WEEK

Date	Open	High	Low	Close
28-Feb-25	48,732.05	48,755.70	47,485.30	47,915.20
27-Feb-25	49,757.05	49,858.10	48,961.85	49,136.75
26-Feb-25	49,967.30	50,292.55	49,590.25	49,702.15
25-Feb-25	49,967.30	50,292.55	49,590.25	49,702.15
24-Feb-25	50,012.90	50,159.30	49,561.25	50,013.10
21-Feb-25	51,099.75	51,555.55	50,308.70	50,486.20
		Weekly Returns		-5.09%

Data Source: NSE

For the week to February 28, 2025, Nifty Mid Cap 100 closed -2,571 points lower or -5.09%. There was all-round selling across various sectors in mid-caps. Nifty Mid-cap touched weekly high of 50,159 and a low of 47,485; closing well below the 50,000 mark.

NIFTY SMALL-CAP 100 INDEX – SELLING SHARPENS THIS WEEK

Date	Open	High	Low	Close
28-Feb-25	15,006.90	15,051.45	14,617.65	14,700.20
27-Feb-25	15,426.95	15,460.75	15,097.85	15,156.60
26-Feb-25	15,462.95	15,606.05	15,377.00	15,408.60
25-Feb-25	15,462.95	15,606.05	15,377.00	15,408.60
24-Feb-25	15,502.70	15,601.75	15,317.40	15,477.30
21-Feb-25	15,730.40	15,982.05	15,566.05	15,636.90
		Weekly Returns		-5.99%

Data Source: NSE

For the week to February 28, 2025, Nifty Small Cap 100 was down -937 points or -5.99%; as the sell-off in small caps continued after a weekly break. It will take time for confidence to come back. Nifty Small-cap touched a weekly high of 15,606 and a low of 14,618.

BANK NIFTY INDEX – BANKS AGAIN SAVE THE BLUSHES

Date	Open	High	Low	Close
28-Feb-25	48,437.55	48,574.50	48,078.70	48,344.70
27-Feb-25	48,732.20	48,972.55	48,627.10	48,743.80
26-Feb-25	48,691.20	48,862.15	48,534.15	48,608.35
25-Feb-25	48,691.20	48,862.15	48,534.15	48,608.35
24-Feb-25	48,619.80	48,748.40	48,281.90	48,651.95
21-Feb-25	49,127.95	49,306.55	48,764.00	48,981.20
		Weekly Returns		-1.30%

Data Source: NSE

For the week to February 28, 2025, Nifty Bank fell by -637 points or -1.30%; as financials were the only sector to hold up in the week. There was also value driven buying in banks. The Bank Nifty touched a weekly high of 48,973 and a low of 48,079.

NIFTY IT INDEX – US BUSINESS UNCERTAINTY HITS TECH STOCKS

Date	Open	High	Low	Close
28-Feb-25	38,620.70	38,642.00	37,167.30	37,318.30
27-Feb-25	38,971.60	39,237.70	38,742.90	38,946.65
26-Feb-25	39,085.60	39,518.20	39,066.40	39,131.30
25-Feb-25	39,085.60	39,518.20	39,066.40	39,131.30
24-Feb-25	40,100.25	40,186.50	39,306.70	39,446.60
21-Feb-25	40,821.65	40,905.40	40,417.45	40,544.50
		Weekly Returns		-7.96%

Data Source: NSE

For the week to February 28, 2025, Nifty IT Index fell sharply by -3,226 points or -7.96%, losing nearly 10% in two weeks. It was less about the dollar and more about US business uncertainty. The IT Index touched a weekly high of 40,187 and a low of 37,167.

NIFTY OIL & GAS INDEX – OIL MARKETS IN A STATE OF FLUX

Date	Open	High	Low	Close
28-Feb-25	9,770.05	9,774.55	9,567.40	9,590.60
27-Feb-25	9,880.35	9,901.30	9,735.65	9,808.45
26-Feb-25	9,952.55	10,008.85	9,833.15	9,850.60
25-Feb-25	9,952.55	10,008.85	9,833.15	9,850.60
24-Feb-25	9,978.85	10,026.30	9,940.00	9,963.35
21-Feb-25	10,158.85	10,235.80	10,034.55	10,074.20
		Weekly Returns		-4.80%

Data Source: NSE

For the week to February 28, 2025, Oil & Gas Index fell by 484 points or -4.80%. Despite lower crude prices, the uncertainty of oil economics is having an impact. Nifty Oil & Gas Index touched a weekly high of 10,026 and a low of 9,567 levels.

NIFTY AUTO INDEX – CONSUMPTION OUTLOOK STILL HAZY

Date	Open	High	Low	Close
28-Feb-25	21,180.80	21,188.20	20,460.10	20,498.60
27-Feb-25	21,766.95	21,786.30	21,243.50	21,335.35
26-Feb-25	21,616.05	21,757.10	21,585.90	21,662.65
25-Feb-25	21,616.05	21,757.10	21,585.90	21,662.65
24-Feb-25	21,409.95	21,597.35	21,291.30	21,552.50
21-Feb-25	21,973.95	22,010.85	21,435.50	21,505.90
		Weekly Returns		-4.68%

Data Source: NSE

For the week to February 28, 2025, Nifty Auto Index fell by -1,007points or -4.68%. Despite a counter-cyclical budget, consumption has hardly shown any enthusiasm. Nifty Auto Index touched a weekly high of 21,786 and a low of 20,460 levels.

NIFTY FMCG INDEX – LOSES OVER 14% SINCE BUDGET DAY

Date	Open	High	Low	Close
28-Feb-25	51,796.65	51,918.20	50,546.85	50,689.00
27-Feb-25	52,453.35	52,579.10	51,875.35	52,055.15
26-Feb-25	52,223.90	52,645.40	52,158.90	52,453.35
25-Feb-25	52,223.90	52,645.40	52,158.90	52,453.35
24-Feb-25	51,753.75	52,340.20	51,729.50	52,285.80
21-Feb-25	52,362.40	52,443.50	51,893.25	52,098.15
		Weekly Returns		-2.70%

Data Source: NSE

For the week to February 28, 2025, FMCG index fell -2.70%, losing more than 14% since the budget day rally. There are concerns over urban demand and margins, amid rising input costs. Nifty FMCG Index touched a weekly high of 52,645 and a low of 50,547 levels.