Weekly Musings – Index performance for week ended May 02, 2025

7 May 2025 , 11:54 AM

The week saw FPIs net buying in equities to the tune of $1,180 Million. VIX, which had spiked to 17.16 levels in the previous week, went up further to 18.26 amidst the worsening diplomatic standoff between India and Pakistan. 

BSE SENSEX 30 INDEX – ENDS SHARPLY HIGHER WITH GAP UP

Date	Open	High	Low	Close
02-May-25	80,300.19	81,177.93	80,168.59	80,501.99
01-May-25	80,370.80	80,525.61	79,879.15	80,242.24
30-Apr-25	80,370.80	80,525.61	79,879.15	80,242.24
29-Apr-25	80,396.92	80,661.31	80,122.02	80,288.38
28-Apr-25	79,343.63	80,321.88	79,341.35	80,218.37
25-Apr-25	79,830.15	80,130.66	78,605.81	79,212.53
		Weekly Returns		+1.63%

Data Source: BSE 

For the week May 02, 2025, Sensex gained +1,289 points or +1.63%. Sensex opened gap-up on Monday and sustained the gains in a narrow range. Sensex touched a weekly high of 81,178 and a low of 79,341; in a truncated week with just 4 days of trading.

NIFTY 50 INDEX – RISES DESPITE SPIKE IN VIX

Date	Open	High	Low	Close
02-May-25	24,311.90	24,589.15	24,238.50	24,346.70
01-May-25	24,342.05	24,396.15	24,198.75	24,334.20
30-Apr-25	24,342.05	24,396.15	24,198.75	24,334.20
29-Apr-25	24,370.70	24,457.65	24,290.75	24,335.95
28-Apr-25	24,070.25	24,355.10	24,054.05	24,328.50
25-Apr-25	24,289.00	24,365.45	23,847.85	24,039.35
		Weekly Returns		+1.28%

Data Source: NSE

This week, it was banking and oil & gas that gave a leg-up to the Nifty. For the week to May 02, 2025, Nifty gained +307 points or +1.28%, although US GDP contraction does raise some questions. Nifty touched a weekly high of 24,589 and a low of 24,054; both on Friday.

NIFTY MID-CAP 100 INDEX – SEES TEPID GAINS IN THE WEEK

Date	Open	High	Low	Close
02-May-25	54,004.95	54,593.35	53,563.90	53,705.10
01-May-25	54,642.60	54,801.40	53,887.60	54,124.90
30-Apr-25	54,642.60	54,801.40	53,887.60	54,124.90
29-Apr-25	54,613.70	55,022.60	54,461.00	54,587.95
28-Apr-25	53,485.30	54,475.75	53,481.20	54,440.25
25-Apr-25	55,080.80	55,213.90	53,116.15	53,570.20
		Weekly Returns		+0.25%

Data Source: NSE

Mid cap stocks faced some resistance at higher levels, as risks mounted, but still closed well above the 50,000 mark. Nifty Mid-cap touched a weekly high of 55,023 and a low of 53,461; with traders turning cautious about alpha hunting in this market.

NIFTY SMALL-CAP 100 INDEX – UNCERTAINTY REMAINS THE KEY

Date	Open	High	Low	Close
02-May-25	16,476.65	16,620.20	16,351.00	16,441.80
01-May-25	16,738.05	16,745.20	16,379.35	16,448.85
30-Apr-25	16,738.05	16,745.20	16,379.35	16,448.85
29-Apr-25	16,772.10	16,900.20	16,695.10	16,738.70
28-Apr-25	16,470.25	16,733.50	16,426.45	16,676.90
25-Apr-25	16,976.95	17,013.80	16,319.60	16,547.20
		Weekly Returns		-0.64%

Data Source: NSE

The small cap index came under pressure, falling -0.64%; amidst rising market and macro risks. Nifty Small-cap index touched a weekly high of 16,900 and a low of 16,351; as most investors turned nervous about small caps in the current macro scenario.

BANK NIFTY INDEX – STEADY RESULTS, STEADY GAINS

Date	Open	High	Low	Close
02-May-25	55,100.95	55,691.95	54,994.40	55,115.35
01-May-25	55,382.40	55,478.25	54,723.70	55,087.15
30-Apr-25	55,382.40	55,478.25	54,723.70	55,087.15
29-Apr-25	55,524.35	55,957.75	55,262.40	55,391.25
28-Apr-25	54,610.30	55,577.40	54,582.35	55,432.80
25-Apr-25	55,233.55	55,350.55	54,176.45	54,664.05
		Weekly Returns		+0.83%

Data Source: NSE

For the week to May 02, 2025, Nifty Bank rallied +451 points or +0.83%, as the domestic story kept banks on the radar, despite risks of narrowing NIMs. Bank Nifty touched a weekly high of 55,958 and a low of 54,582, as major bank results have beaten expectations.

NIFTY IT INDEX – AFTER THE SHARP RALLY, COMES MODEST GAINS

Date	Open	High	Low	Close
02-May-25	35,868.50	36,300.60	35,637.40	35,891.85
01-May-25	35,913.70	36,206.55	35,440.80	35,794.95
30-Apr-25	35,913.70	36,206.55	35,440.80	35,794.95
29-Apr-25	35,565.75	36,157.20	35,416.90	35,920.40
28-Apr-25	35,541.55	35,679.35	35,089.75	35,482.95
25-Apr-25	35,487.30	35,941.45	35,068.15	35,562.25
		Weekly Returns		+0.93%

Data Source: NSE

For the week to May 02, 2025, Nifty IT Index was up a modest 330 points or +0.93%, as value buying continued this week. The IT Index touched a weekly high of 36,301 and a low of 35,090, although the US GDP contraction weighed on IT stocks.

NIFTY OIL & GAS INDEX – LED BY CHEAP OIL AND ROBUST RELIANCE

Date	Open	High	Low	Close
02-May-25	11,196.40	11,358.55	11,176.25	11,261.05
01-May-25	11,228.00	11,296.40	11,048.75	11,179.55
30-Apr-25	11,228.00	11,296.40	11,048.75	11,179.55
29-Apr-25	11,160.40	11,259.40	11,153.60	11,184.50
28-Apr-25	10,869.10	11,157.40	10,827.65	11,132.10
25-Apr-25	10,948.35	11,016.10	10,700.10	10,788.65
		Weekly Returns		+4.38%

Data Source: NSE

For the week to May 02, 2025, Nifty Oil & Gas Index was up +472 points or +4.38%. Oil cracked to $60/bbl, even as RIL announced stellar results. The Oil & Gas Index touched a weekly high of 11,359 and a low of 10,827; turning the best sectoral performance.

NIFTY AUTO INDEX – EDGES HIGHER, BUT WEAK DISPATCHES COULD WEIGH

Date	Open	High	Low	Close
02-May-25	22,323.25	22,687.95	22,198.35	22,286.50
01-May-25	22,306.15	22,389.25	22,091.15	22,308.40
30-Apr-25	22,306.15	22,389.25	22,091.15	22,308.40
29-Apr-25	22,442.65	22,584.10	22,216.55	22,299.05
28-Apr-25	22,003.45	22,427.15	21,919.95	22,352.95
25-Apr-25	22,385.30	22,541.90	21,885.20	21,994.50
		Weekly Returns		+1.33%

Data Source: NSE

For the week to May 02, 2025, Nifty Auto Index gained +292 points or +1.33%. Autos are benefiting from lower funding costs. Nifty Auto Index touched a weekly high of 22,688 and a low of 21,920 levels, but weak auto numbers for April could weigh.

NIFTY FMCG INDEX – URBAN DEMAND REMAINS THE OVERHANG

Date	Open	High	Low	Close
02-May-25	56,242.15	56,588.30	55,875.80	56,252.25
01-May-25	56,492.00	56,826.25	56,150.30	56,445.35
30-Apr-25	56,492.00	56,826.25	56,150.30	56,445.35
29-Apr-25	56,693.80	56,744.50	56,246.30	56,474.50
28-Apr-25	56,432.95	56,767.10	56,313.35	56,620.30
25-Apr-25	56,926.90	57,121.80	55,976.95	56,532.35
		Weekly Returns		-0.50%

Data Source: NSE

For week to May 02, 2025, FMCG index closed -0.50% lower. Recent FMCG results have shown that urban demand and operating margins remain a major challenge. Nifty FMCG Index touched a weekly high of 56,826 and a low of 55,876 levels.

NIFTY HEALTHCARE INDEX – HEALTHCARE REMAINS A HEALTHY BET

Date	Open	High	Low	Close
02-May-25	14,009.85	14,160.80	13,885.65	13,968.25
01-May-25	14,028.80	14,182.35	13,984.80	14,053.60
30-Apr-25	14,028.80	14,182.35	13,984.80	14,053.60
29-Apr-25	14,149.50	14,171.95	13,933.85	13,992.20
28-Apr-25	13,818.35	14,141.75	13,818.05	14,116.25
25-Apr-25	14,207.90	14,269.65	13,721.95	13,829.80
		Weekly Returns		+1.00%

Data Source: NSE

For the week to May 02, 2025, Nifty Healthcare Index rallied +138 points or +1.00%. Pharma tariff uncertainty continues; but it remains a good defensive bet. The Healthcare Index touched a weekly high of 14,182 and a low of 13,818, in the week.