Weekly Musings – Index performance for week ended July 25, 2025

28 Jul 2025 , 03:38 PM

FPIs were net sellers in equities worth $(113) Million this week. Amidst caution in the markets, the VIX was flat at 11.28 levels. Regarding data flows; core sector growth was at 1.71%, with the June quarter core sector growth subdued at 1.34%.

BSE SENSEX 30 INDEX – DOWN ON WEEKEND CAUTION

Date	Open	High	Low	Close
25-Jul-25	82,065.76	82,069.51	81,397.69	81,463.09
24-Jul-25	82,779.95	82,784.24	82,047.22	82,184.17
23-Jul-25	82,451.87	82,786.43	82,279.73	82,726.64
22-Jul-25	82,527.43	82,538.17	82,110.63	82,186.81
21-Jul-25	81,918.53	82,274.03	81,518.66	82,200.34
18-Jul-25	82,193.62	82,334.75	81,608.13	81,757.73
		Weekly Returns		-0.36%

Data Source: BSE

For the week, Sensex fell -295 points or -0.36%. The fourth week of correction was due to the tariff overhang, as traders lightened ahead of the weekend. Sensex touched a weekly high of 82,786 and a low of 81,398; as traders avoided aggressive longs on indices.

NIFTY 50 INDEX – LIQUIDITY RISKS STILL HIGH IN MARKETS

Date	Open	High	Low	Close
25-Jul-25	25,010.35	25,010.35	24,806.35	24,837.00
24-Jul-25	25,243.30	25,246.25	25,018.70	25,062.10
23-Jul-25	25,139.35	25,233.50	25,085.50	25,219.90
22-Jul-25	25,166.65	25,182.00	25,035.55	25,060.90
21-Jul-25	24,999.00	25,111.40	24,882.30	25,090.70
18-Jul-25	25,108.55	25,144.60	24,918.65	24,968.40
		Weekly Returns		-0.53%

Data Source: NSE

For the week, FPIs were net sellers of $(113) Million. Amidst global macro concerns; Nifty gave up -131 points or -0.53%, as traders played it safe ahead of the tariff deadline, and Jane Street still impacts volumes. Nifty touched weekly high of 25,246 and low of 24,806.

NIFTY MID-CAP 100 INDEX – PRESSURE SHOWS UP ON MID-CAPS

Date	Open	High	Low	Close
25-Jul-25	58,806.20	58,892.65	57,907.45	58,009.45
24-Jul-25	59,301.35	59,311.05	58,832.55	58,960.70
23-Jul-25	59,209.20	59,331.45	58,813.70	59,307.10
22-Jul-25	59,658.25	59,667.35	59,039.60	59,103.40
21-Jul-25	59,107.20	59,538.80	58,847.15	59,468.35
18-Jul-25	59,564.85	59,659.70	59,002.50	59,104.50
		Weekly Returns		-1.85%

Data Source: NSE

Nifty Mid-Cap index faced resistance close to the 60,000 mark this week and closed -1.85% lower. Nifty Mid-cap touched a weekly high of 59,667 and low of 57,907. Due to the macro uncertainty, investors are being cautious about value hunting in mid-cap stocks.

NIFTY SMALL CAP 100 INDEX – SEES A SHARP SELL-OFF

Date	Open	High	Low	Close
25-Jul-25	18,657.25	18,663.50	18,270.85	18,294.45
24-Jul-25	18,913.15	18,918.95	18,669.85	18,686.80
23-Jul-25	18,934.40	18,948.45	18,775.10	18,893.20
22-Jul-25	19,039.30	19,080.90	18,879.20	18,893.35
21-Jul-25	18,974.45	18,988.75	18,851.80	18,958.30
18-Jul-25	19,146.20	19,160.05	18,932.05	18,959.65
		Weekly Returns		-3.51%

Data Source: NSE

In an uncertain market, Nifty Small Cap Index gave up -3.51% on caution building up on smaller stocks. Nifty Small-cap index touched a weekly high of 19,081 and a low of 18,271. Hopefully, normalcy in small caps should return after tariff clarity.

BANK NIFTY INDEX – PREVENTS A FALL IN THE LARGE CAP INDICES

Date	Open	High	Low	Close
25-Jul-25	57,170.70	57,170.70	56,439.40	56,528.90
24-Jul-25	57,316.60	57,316.60	56,850.90	57,066.05
23-Jul-25	56,918.15	57,249.00	56,715.80	57,210.45
22-Jul-25	57,253.35	57,286.15	56,692.00	56,756.00
21-Jul-25	56,558.90	56,983.45	56,255.70	56,952.75
18-Jul-25	56,524.25	56,705.15	56,204.85	56,283.00
		Weekly Returns		+0.44%

Data Source: NSE

For the week, Nifty Bank was up +246 points or +0.44%, as bank results held out, despite marginal pressure in the NIMs of banks. Bank Nifty touched weekly high of 57,317 and low of 56,256. With Bank Nifty close to lifetime highs, it could be a major break-out.

NIFTY IT INDEX – TOP LINE GROWTH CONCERNS REMAIN IN Q1FY26

Date	Open	High	Low	Close
25-Jul-25	35,998.00	36,271.10	35,531.65	35,623.75
24-Jul-25	36,949.30	36,974.05	36,097.65	36,135.80
23-Jul-25	36,958.30	37,086.60	36,745.20	36,951.50
22-Jul-25	36,963.65	37,121.00	36,827.40	36,858.90
21-Jul-25	37,109.80	37,164.85	36,780.05	37,031.75
18-Jul-25	37,366.70	37,419.60	36,951.85	37,141.85
		Weekly Returns		-4.09%

Data Source: NSE

After falling over -5.1% in the previous 2 weeks, IT index fell another -4.09% this week; making it 10% fall in 3 weeks. Q1FY26 results showed pressure on top line growth. IT Index touched a weekly high of 37,165 and a low of 35,531. Big results are done and dusted.

NIFTY OIL & GAS INDEX – TEPID OIL PRICES HOLD DOWN OIL INDEX

Date	Open	High	Low	Close
25-Jul-25	11,551.85	11,567.25	11,348.40	11,356.40
24-Jul-25	11,661.30	11,685.40	11,554.70	11,583.20
23-Jul-25	11,640.80	11,682.80	11,597.50	11,673.70
22-Jul-25	11,647.80	11,675.50	11,585.50	11,596.85
21-Jul-25	11,737.75	11,773.95	11,616.85	11,643.45
18-Jul-25	11,843.00	11,867.40	11,727.80	11,771.90
		Weekly Returns		-3.53%

Data Source: NSE

For the week, Nifty Oil & Gas Index fell sharply by -3.53%. Brent prices struggled to cross $70/bbl and that hit upstream players. Better marketing margins and the rescue package helped OMCs. After the euphoria of RIL results, it was back to brass tacks.

NIFTY FMCG INDEX – AFTER THE RALLY, IT WAS THE NORMALIZATION

Date	Open	High	Low	Close
25-Jul-25	55,046.00	55,046.00	54,463.30	54,579.95
24-Jul-25	55,859.60	56,015.50	55,020.95	55,085.85
23-Jul-25	56,163.75	56,221.30	55,586.65	55,710.35
22-Jul-25	56,286.80	56,288.55	55,939.35	56,003.95
21-Jul-25	56,496.85	56,541.80	56,086.55	56,222.70
18-Jul-25	56,943.35	56,943.35	56,388.20	56,506.90
		Weekly Returns		-3.41%

Data Source: NSE

FMCG index fell -3.41% this week after gaining 4.4% in the last 3 weeks. It was a bit of normalization effect after the sharp rally. Nifty FMCG Index touched weekly high of 56,542 and low of 54,463 levels, turning in another smart weekly performance.