Weekly Musings – Index performance for week ended May 16, 2025

19 May 2025 , 10:11 AM

FPIs were net buyers in equities to the tune of $521 Million this week. The ceasefire led to VIX falling sharply from 22.75 to 16.55 levels. Geopolitical risks remain elevated for markets, as the peace still appears to be quite tense.

BSE SENSEX 30 INDEX – BENEFITS FROM GAP-UP OPENING

Date	Open	High	Low	Close
16-May-25	82,392.63	82,514.81	82,146.95	82,330.59
15-May-25	81,354.43	82,718.14	80,762.16	82,530.74
14-May-25	81,278.49	81,691.87	80,910.03	81,330.56
13-May-25	82,249.60	82,572.81	81,043.69	81,148.22
12-May-25	80,803.80	82,495.97	80,651.07	82,429.90
09-May-25	78,968.34	80,032.93	78,968.34	79,454.47
		Weekly Returns		+3.62%

Data Source: BSE

For the week to May 16, 2025, Sensex gained 2,876 points or +3.62%. However, the entire gains came purely from a gap-up opening. Sensex touched a weekly high of 82,718 and a low of 80,651; as Sensex closed around its Monday close.

NIFTY 50 INDEX – SHARP RALLY AS VIX PLUMMETS

Date	Open	High	Low	Close
16-May-25	25,064.65	25,070.00	24,953.05	25,019.80
15-May-25	24,694.45	25,116.25	24,494.45	25,062.10
14-May-25	24,613.80	24,767.55	24,535.55	24,666.90
13-May-25	24,864.05	24,973.80	24,547.50	24,578.35
12-May-25	24,420.10	24,944.80	24,378.85	24,924.70
09-May-25	23,935.75	24,164.25	23,935.75	24,008.00
		Weekly Returns		+4.21%

Data Source: NSE

With the ceasefire in place, VIX tapered from 22.75 to 16.55 levels. Nifty gained +1,012 points or +4.21%. The US-China trade deal was also a positive. Nifty touched a weekly high of 25,116 and a low of 24,379; as the Nifty was also a gap-up story for the week.

NIFTY MID-CAP 100 INDEX – SOLID GAINS LED BY IT AND DEFENCE

Date	Open	High	Low	Close
16-May-25	56,760.25	57,170.15	56,549.20	57,060.50
15-May-25	56,327.60	56,578.80	56,053.65	56,530.85
14-May-25	55,718.20	56,197.15	55,524.00	56,136.40
13-May-25	55,495.90	55,796.50	55,265.20	55,520.70
12-May-25	54,750.60	55,442.10	54,587.65	55,416.05
09-May-25	52,097.30	53,336.95	52,093.90	53,223.35
		Weekly Returns		+7.21%

Data Source: NSE

Once again, mid-cap index stood out in a tough market, helped by mid-cap IT and defence stocks. Nifty Mid-cap touched a weekly high of 57,170 and a low of 54,588; with IT and defence leading the mid-cap rally higher.

NIFTY SMALL-CAP 100 INDEX – SOME SIGNS OF BOTTOM FISHING

Date	Open	High	Low	Close
16-May-25	17,336.05	17,575.30	17,259.55	17,560.40
15-May-25	17,225.20	17,257.60	17,156.70	17,239.95
14-May-25	16,997.15	17,159.85	16,931.10	17,147.45
13-May-25	16,791.15	16,913.55	16,732.05	16,903.40
12-May-25	16,613.80	16,779.30	16,569.20	16,767.30
09-May-25	15,771.50	16,130.05	15,765.35	16,085.65
		Weekly Returns		+9.17%

Data Source: NSE

The small cap index gained +9.17%; as the ceasefire coaxed investors to turn risk-on. Nifty Small-cap index touched a weekly high of 17,575 and a low of 16,569; as there was a mix of individual appetite and institutional buying returning to small cap stocks.

BANK NIFTY INDEX – RISES IN TANDEM WITH NIFTY

Date	Open	High	Low	Close
16-May-25	55,276.00	55,418.90	55,170.25	55,354.90
15-May-25	54,853.70	55,490.55	54,442.30	55,355.60
14-May-25	55,008.55	55,208.60	54,491.00	54,801.30
13-May-25	55,233.50	55,499.65	54,888.50	54,940.85
12-May-25	54,658.75	55,466.30	54,558.05	55,382.85
09-May-25	53,595.95	54,054.80	53,483.05	53,595.25
		Weekly Returns		+3.28%

Data Source: NSE

For the week to May 16, 2025, Nifty Bank gained +1,760 points or +3.28%, as banking results were broadly satisfactory. Banking is the new domestic play. Bank Nifty touched a weekly high of 55,500 and a low of 54,442, as the ceasefire lowered risk perception.

NIFTY IT INDEX – GAINS SHARPLY ON EXPECTED US RECOVERY

Date	Open	High	Low	Close
16-May-25	38,351.90	38,351.90	37,814.90	37,972.35
15-May-25	37,929.10	38,377.35	37,456.75	38,293.80
14-May-25	37,480.60	37,913.80	37,379.15	37,853.55
13-May-25	38,326.40	38,326.40	37,304.95	37,354.60
12-May-25	36,656.65	38,356.10	36,600.75	38,282.55
09-May-25	35,490.90	35,929.30	35,488.40	35,880.10
		Weekly Returns		+5.83%

Data Source: NSE

For the week to May 16, 2025, Nifty IT Index gained 5.83%, as US-UK deal and the US-China deal rekindled hopes of revival in corporate IT spending. The IT Index touched a weekly high of 38,377 and a low of 36,601. Dollar index (DXY) hardened to 101 levels this week.

NIFTY OIL & GAS INDEX – RISING BRENT BOOSTS OIL STOCKS

Date	Open	High	Low	Close
16-May-25	11,530.80	11,614.75	11,509.80	11,595.10
15-May-25	11,407.65	11,565.50	11,334.80	11,532.25
14-May-25	11,300.85	11,415.05	11,299.45	11,396.00
13-May-25	11,365.75	11,420.40	11,237.45	11,258.25
12-May-25	11,251.40	11,370.95	11,247.65	11,361.65
09-May-25	10,889.00	11,034.80	10,885.20	11,016.70
		Weekly Returns		+5.25%

Data Source: NSE

For the week to May 16, 2025, Nifty Oil & Gas Index gained +578 points or +5.25%. Brent crude bounced to $65.5/bbl, amidst the US-UK trade deal. The Oil & Gas Index touched a weekly high of 11,615 and a low of 11,237; gaining steadily through the week.

NIFTY AUTO INDEX – ANOTHER WEEK OF SOLD GAINS

Date	Open	High	Low	Close
16-May-25	23,833.80	24,009.75	23,777.55	23,953.15
15-May-25	23,356.65	23,880.50	23,261.85	23,804.85
14-May-25	23,088.60	23,390.80	22,947.65	23,356.85
13-May-25	23,293.05	23,500.15	23,046.95	23,167.25
12-May-25	23,135.90	23,427.35	23,066.40	23,400.45
09-May-25	22,241.45	22,804.75	22,220.70	22,627.80
		Weekly Returns		+5.86%

Data Source: NSE

For the week to May 16, 2025, Nifty Auto Index gained +1,325 points or +5.86%. Sentiments around auto continue to be strong post the US-UK trade deal. Nifty Auto Index touched a weekly high of 24,010 and a low of 23,047 levels.

NIFTY FMCG INDEX – A WEEK OF MIXED QUARTERLY RESULTS

Date	Open	High	Low	Close
16-May-25	56,909.80	57,090.45	56,590.90	57,061.80
15-May-25	56,410.15	56,939.55	56,063.30	56,685.95
14-May-25	56,340.40	56,596.95	56,040.70	56,351.70
13-May-25	57,061.30	57,363.60	56,208.80	56,334.15
12-May-25	56,498.15	57,160.70	56,354.80	57,101.40
09-May-25	55,203.20	55,703.70	55,038.50	55,633.00
		Weekly Returns		+2.57%

Data Source: NSE

For week to May 16, 2025, FMCG index closed +2.57% higher. Most FMCG results have shown pressure on urban sales numbers and operating margins. Nifty FMCG Index touched a weekly high of 57,597 and a low of 56,041 levels.

NIFTY HEALTHCARE INDEX – PHARMA GAINS DESPITE US UNCERTAINTY

Date	Open	High	Low	Close
16-May-25	14,164.55	14,164.55	14,022.20	14,072.35
15-May-25	13,993.05	14,130.35	13,916.50	14,114.35
14-May-25	13,876.20	14,007.00	13,797.15	13,986.00
13-May-25	13,825.80	14,031.40	13,825.40	13,899.45
12-May-25	13,637.70	13,778.40	13,445.85	13,765.50
09-May-25	13,508.95	13,697.15	13,503.40	13,672.80
		Weekly Returns		+2.92%

Data Source: NSE

For the week to May 16, 2025, Nifty Healthcare Index gained +400 points or +2.92%. The bounce was despite the pharma sector uncertainty. The Healthcare Index touched a weekly high of 14,165 and a low of 13,446, for the week.