Weekly Musings – Index performance for week ended June 20, 2025

23 Jun 2025 , 11:00 AM

FPIs were net buyers in equities worth $139 Million this week. With geopolitical risk getting normalized, the VIX fell back to 13.6 levels. In terms of data, core sector growth may have been tepid; but WPI inflation was lower and the MPC minutes gave a dovish message.

BSE SENSEX 30 INDEX – MOST GAINS SEEN ON FRIDAY

Date	Open	High	Low	Close
20-Jun-25	81,354.85	82,494.49	81,323.20	82,408.17
19-Jun-25	81,403.94	81,583.94	81,191.04	81,361.87
18-Jun-25	81,314.62	81,858.97	81,237.01	81,444.66
17-Jun-25	81,869.47	81,890.15	81,427.01	81,583.30
16-Jun-25	81,034.45	81,865.82	81,012.31	81,796.15
13-Jun-25	80,427.81	81,238.68	80,354.59	81,118.60
		Weekly Returns		+1.59%

Data Source: BSE

For the week, Sensex bounced +1,290 points or +1.59%. Bulk of the weekly gains came only on Friday after a positive G7 meet. Sensex touched a weekly high of 82,495 and a low of 81,012; a relatively less volatile for the BSE Sensex.

NIFTY 50 INDEX – SHORT COVERING PULLS UP THE NIFTY

Date	Open	High	Low	Close
20-Jun-25	24,787.65	25,136.20	24,783.65	25,112.40
19-Jun-25	24,803.25	24,863.10	24,733.40	24,793.25
18-Jun-25	24,788.35	24,947.55	24,750.45	24,812.05
17-Jun-25	24,977.85	24,982.05	24,813.70	24,853.40
16-Jun-25	24,732.35	24,967.10	24,703.60	24,946.50
13-Jun-25	24,473.00	24,754.35	24,473.00	24,718.60
		Weekly Returns		+1.59%

Data Source: NSE

While macros were tentative and FPIs were unsure, a surge in short covering boosted the Nifty. The Nifty gained +394 points or +1.59%, on the back of shorts getting squeezed out. Nifty touched a weekly high of 25,136 and low of 24,704 this week.

NIFTY MID-CAP 100 INDEX – SENTIMENTS REMAIN SHAKY

Date	Open	High	Low	Close
20-Jun-25	57,162.65	58,094.15	57,132.75	57,995.50
19-Jun-25	58,148.55	58,173.05	57,047.45	57,159.95
18-Jun-25	58,233.10	58,590.00	57,962.00	58,109.20
17-Jun-25	58,847.65	58,990.35	58,302.15	58,379.30
16-Jun-25	58,222.95	58,806.05	57,597.15	58,768.50
13-Jun-25	57,246.25	58,341.90	57,246.25	58,227.45
		Weekly Returns		-0.40%

Data Source: NSE

The risk quotient in mid-caps got highlighted in a volatile week as mid-cap index closed with losses. Nifty Mid-cap touched a weekly high of 58,990 and low of 57,047. Clearly, alpha hunting has taken a backseat as most investors prefer the stability of large caps.

NIFTY SMALL CAP 100 INDEX – LOSES NEARLY 1% FOR THE WEEK

Date	Open	High	Low	Close
20-Jun-25	18,006.65	18,234.00	17,941.45	18,194.20
19-Jun-25	18,377.55	18,438.65	17,958.55	18,013.10
18-Jun-25	18,401.60	18,523.20	18,270.85	18,378.45
17-Jun-25	18,576.20	18,611.00	18,388.00	18,420.35
16-Jun-25	18,391.50	18,564.90	18,085.45	18,549.20
13-Jun-25	18,074.30	18,435.70	18,072.35	18,374.80
		Weekly Returns		-0.98%

Data Source: NSE

Small cap index fell -0.98%; indicating that retail investors were getting wary of macro risks. Nifty Small-cap index touched a weekly high of 18,611 and a low of 17,941. The index made lower highs and lower lows during the week, a visibly tepid signal.

BANK NIFTY INDEX – DRIVES THE RALLY ON FRIDAY

Date	Open	High	Low	Close
20-Jun-25	55,566.70	56,328.20	55,566.40	56,252.85
19-Jun-25	55,784.85	55,942.45	55,475.45	55,577.45
18-Jun-25	55,544.95	55,933.60	55,511.80	55,828.75
17-Jun-25	55,975.00	56,067.30	55,643.95	55,714.15
16-Jun-25	55,554.10	55,999.85	55,381.45	55,944.90
13-Jun-25	55,149.30	55,688.00	55,149.30	55,527.35
		Weekly Returns		+1.31%

Data Source: NSE

For the week, Nifty Bank gained +726 points or +1.31%, as investors still bet on the domestic India story. Bank Nifty touched weekly high of 56,328 and low of 55,381. Banks are likely to gain from sustained low inflation indicated in the RBI MPC minutes.

NIFTY IT INDEX – DOLLAR DEFENSIVES CONTINUE TO PLAY OUT

Date	Open	High	Low	Close
20-Jun-25	38,674.20	39,041.05	38,454.05	38,991.45
19-Jun-25	38,945.35	38,966.80	38,429.40	38,664.95
18-Jun-25	39,220.35	39,572.50	38,963.80	39,030.90
17-Jun-25	39,123.00	39,499.15	38,977.95	39,356.10
16-Jun-25	38,440.85	39,258.40	38,369.05	39,073.05
13-Jun-25	37,769.50	38,687.55	37,722.20	38,469.25
		Weekly Returns		+1.36%

Data Source: NSE

After gaining 3.15% in the previous week, IT index bounced 1.36% this week. With the rupee weakening, IT remains a true dollar defensive. IT Index touched a weekly high of 39,573 and a low of 38,369; making sharply higher highs and higher lows.

NIFTY OIL & GAS INDEX – FLAT AMIDST THE VOLATILITY

Date	Open	High	Low	Close
20-Jun-25	11,347.30	11,477.20	11,322.65	11,462.10
19-Jun-25	11,439.10	11,452.40	11,325.95	11,358.85
18-Jun-25	11,475.15	11,529.50	11,387.45	11,431.70
17-Jun-25	11,592.10	11,596.45	11,467.35	11,486.80
16-Jun-25	11,456.10	11,581.95	11,405.00	11,570.95
13-Jun-25	11,385.40	11,498.75	11,318.10	11,443.60
		Weekly Returns		+0.16%

Data Source: NSE

For the week, Nifty Oil & Gas Index closed relatively flat. Brent crude prices continue to rally amidst geopolitical risks in Middle East and West Asia. The downstream oil companies are facing pressure, while upstream oil companies stand to gain.

NIFTY AUTO INDEX – CONTINUES TO PLAY OUT DOMESTIC STORY

Date	Open	High	Low	Close
20-Jun-25	23,462.95	23,720.25	23,403.70	23,679.35
19-Jun-25	23,305.50	23,496.25	23,299.60	23,434.65
18-Jun-25	23,208.95	23,564.95	23,130.05	23,312.35
17-Jun-25	23,407.55	23,416.80	23,176.70	23,227.30
16-Jun-25	23,302.70	23,425.25	23,074.25	23,368.25
13-Jun-25	22,941.80	23,365.15	22,915.65	23,327.40
		Weekly Returns		+1.51%

Data Source: NSE

For the week, Nifty Auto Index gained +352 points or +1.51%. Auto is emerging as an India-specific consumption and industrial play for the investors. Auto Index touched weekly high of 23,720 and low of 23,074 levels.

NIFTY FMCG INDEX – WEAK URBAN DEMAND THE OVERHANG

Date	Open	High	Low	Close
20-Jun-25	54,316.90	54,690.05	54,265.70	54,630.95
19-Jun-25	54,418.70	54,603.75	54,158.35	54,283.50
18-Jun-25	54,647.15	54,804.80	54,284.30	54,452.40
17-Jun-25	54,842.00	54,932.05	54,540.05	54,708.75
16-Jun-25	54,534.70	54,908.55	54,414.45	54,873.30
13-Jun-25	54,373.60	54,688.60	54,349.15	54,527.15
		Weekly Returns		+0.19%

Data Source: NSE

For the week, FMCG index closed +0.19% higher. There are concerns that crude spike could hit input costs and also consumer buying power. Nifty FMCG Index touched weekly high of 54,932 and low of 54,158 levels, clearly stuck in a narrow range.

NIFTY HEALTHCARE INDEX – PHARMA TARIFFS PLAY SPOILSPORT

Date	Open	High	Low	Close
20-Jun-25	13,963.15	14,133.30	13,952.10	14,112.95
19-Jun-25	14,062.80	14,079.95	13,934.65	13,963.95
18-Jun-25	14,125.20	14,191.00	14,038.85	14,055.00
17-Jun-25	14,396.50	14,411.10	14,083.10	14,138.65
16-Jun-25	14,300.30	14,409.95	14,230.70	14,396.10
13-Jun-25	14,177.40	14,346.40	14,127.05	14,328.65
		Weekly Returns		-1.51%

Data Source: NSE

For the week to June 20, 2025, Nifty Healthcare Index fell -217 points or -1.51%. The correction was triggered after Trump hinted at tariffs on pharma products. The Healthcare Index touched a weekly high of 14,410 and a low of 13,935 for the week.