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

1 Apr 2025 , 10:14 AM

The week saw net FPI buying turn around to $3,231 Million, reducing cumulative FPI selling in 12 weeks of 2025 to $(13.3) Billion. VIX was flat at 12.72 levels; but, despite 25% Trump tariffs on automobiles, FPI inflows surged.

BSE SENSEX 30 INDEX – HOLDS IN POSITIVE TERRITORY

Date	Open	High	Low	Close
28-Mar-25	77,690.69	77,766.70	77,185.62	77,414.92
27-Mar-25	77,087.39	77,747.46	77,082.51	77,606.43
26-Mar-25	78,021.45	78,167.87	77,194.22	77,288.50
25-Mar-25	78,296.28	78,741.69	77,745.63	78,017.19
24-Mar-25	77,456.27	78,107.23	77,179.35	77,984.38
21-Mar-25	76,155.00	77,041.94	76,095.26	76,905.51
		Weekly Returns		+0.66%

Data Source: BSE

For the week March 28, 2025, Sensex gained +509 points or +0.66%. The market rally was triggered by hopes of RBI cutting rates in April 2025. Sensex touched a weekly high of 78,742 and a low of 77,083; displaying a more rangebound performance.

NIFTY 50 INDEX – FPI INFLOWS HAVE LIMITED IMPACT ON NIFTY

Date	Open	High	Low	Close
28-Mar-25	23,600.40	23,649.20	23,450.20	23,519.35
27-Mar-25	23,433.95	23,646.45	23,412.20	23,591.95
26-Mar-25	23,700.95	23,736.50	23,451.70	23,486.85
25-Mar-25	23,751.50	23,869.60	23,601.40	23,668.65
24-Mar-25	23,515.40	23,708.75	23,433.50	23,658.35
21-Mar-25	23,168.25	23,402.70	23,132.80	23,350.40
		Weekly Returns		0.72%

Data Source: NSE

FPI flows were robust, but Nifty was modest after the sharp rally list week. For the week to March 28, 2025, Nifty rallied +169 points or +0.72%, largely on indexer balancing. Nifty touched a weekly high of 23,870 and a low of 23,412 this week.

NIFTY MID-CAP 100 INDEX – CLOSES LOWER FOR THE WEEK

Date	Open	High	Low	Close
28-Mar-25	52,083.15	52,473.20	51,447.40	51,672.25
27-Mar-25	51,423.40	51,954.55	51,286.85	51,839.40
26-Mar-25	52,035.65	52,416.10	51,581.00	51,646.15
25-Mar-25	52,882.60	52,926.85	51,714.95	51,969.75
24-Mar-25	52,237.50	52,762.80	52,047.75	52,524.05
21-Mar-25	51,160.65	51,905.95	51,011.50	51,850.75
		Weekly Returns		-0.34%

Data Source: NSE

After the 7.74% rally last week, the Nifty closed with marginal losses of -0.34% or -179 points. Probably markets still lack confidence to alpha hunt. Nifty Mid-cap touched weekly high of 52,955 and a low of 51,287; settling in a fairly narrow range after the rally.

BANK NIFTY INDEX – LENDING SUPPORT TO GENERIC INDICES

Date	Open	High	Low	Close
28-Mar-25	51,608.40	51,839.10	51,335.35	51,564.85
27-Mar-25	51,084.70	51,714.35	51,050.85	51,575.85
26-Mar-25	51,640.05	51,875.80	51,069.15	51,209.00
25-Mar-25	51,874.20	52,063.95	51,429.60	51,607.95
24-Mar-25	50,982.70	51,801.15	50,795.90	51,704.95
21-Mar-25	49,927.10	50,672.15	49,891.95	50,593.55
		Weekly Returns		+1.92%

Data Source: NSE

For the week to March 28, 2025, Nifty Bank rallied +971 points or +1.92%; as macro buying continued in banks as part of the global index realignment. The Bank Nifty touched a weekly high of 52,064 and a low of 50,796; making higher highs and higher lows.

NIFTY IT INDEX – STAYS IN POSITIVE ZONE

Date	Open	High	Low	Close
28-Mar-25	37,376.60	37,540.80	36,767.25	36,886.15
27-Mar-25	37,168.15	37,627.60	37,160.00	37,548.30
26-Mar-25	37,719.45	37,929.40	37,216.60	37,336.70
25-Mar-25	37,542.40	38,073.05	37,406.00	37,706.90
24-Mar-25	36,944.90	37,469.85	36,539.95	37,217.05
21-Mar-25	35,942.50	37,033.90	35,674.40	36,702.80
		Weekly Returns		+0.50%

Data Source: NSE

For the week to March 28, 2025, Nifty IT Index was up +183 points or +0.50%, as concerns over US tech spending and contract margins were the key headwinds. The IT Index touched a weekly high of 38,073 and a low of 36,540, losing steam during the week.

NIFTY AUTO INDEX – TRUMP TARIFFS SPOOK AUTO STOCKS

Date	Open	High	Low	Close
28-Mar-25	21,570.20	21,577.20	21,200.75	21,295.50
27-Mar-25	21,445.65	21,611.95	21,216.40	21,516.75
26-Mar-25	21,776.10	21,924.60	21,704.80	21,742.80
25-Mar-25	22,050.90	22,092.40	21,683.10	21,737.60
24-Mar-25	21,891.10	21,987.10	21,665.20	21,938.70
21-Mar-25	21,720.95	21,993.95	21,667.35	21,756.00
		Weekly Returns		-2.12%

Data Source: NSE

For the week to March 28, 2025, Nifty Auto Index fell -461 points or -2.12%. The 25% Trump tariffs on cars and auto components spooked the Nifty auto index in the second half of the week. Nifty Auto Index touched a weekly high of 21,987 and a low of 21,201 levels.

NIFTY FMCG INDEX – STILL A BET ON CONSUMPTION STORY

Date	Open	High	Low	Close
28-Mar-25	53,198.80	54,150.90	53,198.80	53,589.80
27-Mar-25	53,002.55	53,475.05	52,649.20	53,276.60
26-Mar-25	53,229.45	53,291.55	52,872.30	52,988.50
25-Mar-25	53,307.10	53,601.65	52,990.10	53,131.30
24-Mar-25	53,185.05	53,349.30	53,014.85	53,232.75
21-Mar-25	53,066.25	53,096.15	52,670.60	52,986.05
		Weekly Returns		+1.14%

Data Source: NSE

For the week to March 28, 2025, FMCG index closed +1.14% higher. Amidst all the urban demand risks, investors still remain positive on the India consumption story. Nifty FMCG Index touched a weekly high of 54,151 and a low of 52,649 levels.