Weekly Musings – Index performance for week ended May 23, 2025

26 May 2025 , 09:35 AM

FPIs were net sellers in equities worth $(560) Million this week. Due to tumult in the bond markets globally, VIX remained elevated at 17.28 levels. Apart from data, markets are focusing on the geopolitical situation and possibility of a mini-trade deal with the US.

BSE SENSEX 30 INDEX – FPI SELLING DENTS INDEX

Date	Open	High	Low	Close
23-May-25	80,897.00	81,905.17	80,897.00	81,721.08
22-May-25	81,323.05	81,323.24	80,489.92	80,951.99
21-May-25	81,327.61	82,021.64	81,237.06	81,596.63
20-May-25	82,116.17	82,250.42	81,153.70	81,186.44
19-May-25	82,354.92	82,424.10	81,964.57	82,059.42
16-May-25	82,392.63	82,514.81	82,146.95	82,330.59
		Weekly Returns		-0.74%

Data Source: BSE

For the week, Sensex fell -610 points or -0.74%. The FPI selling and overall macro uncertainty took its toll on the index. Sensex touched a weekly high of 82,424 and a low of 80,490; as index staged a late recovery on Friday.

NIFTY 50 INDEX – GLOBAL RISKS HOLD DOWN NIFTY

Date	Open	High	Low	Close
23-May-25	24,639.50	24,909.05	24,614.05	24,853.15
22-May-25	24,733.95	24,737.50	24,462.40	24,609.70
21-May-25	24,744.25	24,946.20	24,685.35	24,813.45
20-May-25	24,996.20	25,010.35	24,669.70	24,683.90
19-May-25	25,005.35	25,062.95	24,916.65	24,945.45
16-May-25	25,064.65	25,070.00	24,953.05	25,019.80
		Weekly Returns		-0.67%

Data Source: NSE

VIX was up in the week from 16.55 to 17.28 levels. Nifty fell -167 points or -0.67%. Fresh risk factor came from reports of Israel bombing Iranian nuclear facilities. Nifty touched a weekly high of 25,063 and a low of 24,462 for the week.

NIFTY MID-CAP 100 INDEX – ALPHA HUNTING TAKES A BACK SEAT

Date	Open	High	Low	Close
23-May-25	56,449.65	56,782.30	56,235.40	56,687.75
22-May-25	56,506.65	56,546.80	55,972.70	56,324.85
21-May-25	56,249.60	56,727.50	56,001.85	56,619.60
20-May-25	57,416.20	57,445.15	56,095.05	56,182.65
19-May-25	57,245.40	57,451.90	56,816.75	57,105.45
16-May-25	56,760.25	57,170.15	56,549.20	57,060.50
		Weekly Returns		-0.65%

Data Source: NSE

Despite buying interest in mid-cap IT and defence; mid-cap index faltered in the week. Nifty Mid-cap touched a weekly high of 57,452 and low of 55,973. With USDINR and crude volatile, investors are approaching mid-caps cautiously.

NIFTY SMALL-CAP 100 INDEX – STANDS OUT WITH SOME BUYING

Date	Open	High	Low	Close
23-May-25	17,526.75	17,673.45	17,426.10	17,643.35
22-May-25	17,533.65	17,601.40	17,395.55	17,503.10
21-May-25	17,527.15	17,598.70	17,397.80	17,548.60
20-May-25	17,771.85	17,818.20	17,447.30	17,483.00
19-May-25	17,666.55	17,765.15	17,537.50	17,649.65
16-May-25	17,336.05	17,575.30	17,259.55	17,560.40
		Weekly Returns		+0.47%

Data Source: NSE

Small cap index gained +0.47%; over and above the 9.17% gains last week. Nifty Small-cap index touched a weekly high of 17,818 and a low of 17,396; as small cap defence stocks came to the rescue.

BANK NIFTY INDEX – CLOSES FLAT FOR THE WEEK

Date	Open	High	Low	Close
23-May-25	54,959.30	55,441.30	54,854.50	55,398.25
22-May-25	54,875.90	54,996.10	54,576.60	54,941.30
21-May-25	55,060.20	55,336.85	54,690.80	55,075.10
20-May-25	55,445.30	55,568.35	54,829.45	54,877.35
19-May-25	55,326.05	55,695.55	55,296.55	55,420.70
16-May-25	55,276.00	55,418.90	55,170.25	55,354.90
		Weekly Returns		+0.08%

Data Source: NSE

For the week, Nifty Bank gained just +43 points or +0.08%, as banking results and the domestic proxy story held up banks. Bank Nifty touched weekly high of 55,696 and low of 54,691, although macro-risks remain an overhang.

NIFTY IT INDEX – FALL SHARPLY ON DOLLAR INDEX WEAKNESS

Date	Open	High	Low	Close
23-May-25	37,108.70	37,826.40	37,062.80	37,403.55
22-May-25	37,246.25	37,316.30	36,868.55	37,050.10
21-May-25	37,418.25	37,618.90	37,112.60	37,540.10
20-May-25	37,722.20	38,019.05	37,234.20	37,283.50
19-May-25	37,845.60	37,917.20	37,429.60	37,477.80
16-May-25	38,351.90	38,351.90	37,814.90	37,972.35
		Weekly Returns		-1.50%

Data Source: NSE

For the week to May 23, 2025, Nifty IT Index fell -1.50%, as dollar index (DXY) again dipped to 99.10 levels. The IT Index touched a weekly high of 38,019 and a low of 36,869. Apart from weak dollar, weak IT spending also weighed on IT stocks.

NIFTY OIL & GAS INDEX – CRUDE VOLATILITY HITS OIL STOCKS

Date	Open	High	Low	Close
23-May-25	11,376.30	11,498.60	11,360.40	11,467.50
22-May-25	11,471.75	11,493.50	11,284.45	11,378.70
21-May-25	11,473.85	11,524.70	11,394.55	11,513.25
20-May-25	11,564.25	11,630.15	11,450.40	11,461.95
19-May-25	11,597.50	11,634.10	11,534.30	11,553.35
16-May-25	11,530.80	11,614.75	11,509.80	11,595.10
		Weekly Returns		-1.10%

Data Source: NSE

For the week, Nifty Oil & Gas Index fell -128 points or -1.10%. Brent crude bounced to $66/bbl, on reports of Israel possibly bombing Iranian nuclear facilities. Oil & Gas Index touched weekly high of 11,634 and low of 11,284; but OMCs attracted buying.

NIFTY AUTO INDEX – FEWER RATE CUTS WEIGHT ON AUTO STOCKS

Date	Open	High	Low	Close
23-May-25	23,528.05	23,595.20	23,423.45	23,515.25
22-May-25	23,629.85	23,643.75	23,291.40	23,459.90
21-May-25	23,580.40	23,914.75	23,503.95	23,700.10
20-May-25	24,111.50	24,138.70	23,495.55	23,531.20
19-May-25	23,943.45	24,174.15	23,933.15	24,052.60
16-May-25	23,833.80	24,009.75	23,777.55	23,953.15
		Weekly Returns		-1.83%

Data Source: NSE

For the week, Nifty Auto Index fell -438 points or -1.83%. Sentiments around auto soured after Bostic hinted at just one rate cut in 2025, and RBI also hinted at pause after June rate cut. Index touched weekly high of 24,174 and low of 23,291 levels.

NIFTY FMCG INDEX – WEAK RESULTS THE OVERHANG

Date	Open	High	Low	Close
23-May-25	56,022.00	56,679.75	55,789.85	56,502.05
22-May-25	56,326.90	56,334.00	55,305.20	55,598.05
21-May-25	56,369.40	56,753.50	56,235.20	56,413.15
20-May-25	57,209.65	57,229.05	56,142.65	56,206.25
19-May-25	57,038.35	57,370.75	56,805.85	56,955.70
16-May-25	56,909.80	57,090.45	56,590.90	57,061.80
		Weekly Returns		-0.98%

Data Source: NSE

For the week, FMCG index closed -0.98% lower. FMCG results have shown pressure on urban sales numbers and weak operating margins. Nifty FMCG Index touched weekly high of 57,371 and low of 55,305 levels.

NIFTY HEALTHCARE INDEX – MODEST FALL IN THE WEEK

Date	Open	High	Low	Close
23-May-25	13,899.45	13,989.85	13,789.45	13,980.80
22-May-25	14,033.75	14,058.70	13,920.70	13,981.65
21-May-25	13,954.45	14,195.00	13,942.65	14,042.75
20-May-25	14,170.40	14,187.95	13,900.70	13,927.25
19-May-25	14,126.30	14,274.55	14,092.10	14,126.45
16-May-25	14,164.55	14,164.55	14,022.20	14,072.35
		Weekly Returns		-0.65%

Data Source: NSE

For the week to May 23, 2025, Nifty Healthcare Index fell -92 points or -0.65%. Investors are now looking at healthcare as a safe haven in this tumult. The Healthcare Index touched a weekly high of 14,275 and a low of 13,789, for the week.