Weekly Musings – Index performance for week ended October 17, 2025

20 Oct 2025 , 11:37 AM

FPIs were net buyers in equities worth $969 Million this week. During the week, the VIX bounced sharply from 10.10 to 11.63 levels, despite dipping as low as 9.78. The sustained US shutdown and rising global risks has made the markets slightly edgy.

BSE SENSEX 30 INDEX – DOMESTIC STORIES PUSH SENSEX HIGHER

Date	Open	High	Low	Close
17-Oct-25	83,331.78	84,172.24	83,206.08	83,952.19
16-Oct-25	82,794.79	83,615.48	82,791.35	83,467.66
15-Oct-25	82,197.25	82,727.02	82,084.37	82,605.43
14-Oct-25	82,404.54	82,573.37	81,781.62	82,029.98
13-Oct-25	82,049.16	82,438.50	82,043.14	82,327.05
10-Oct-25	82,075.45	82,654.11	82,072.93	82,500.82
		Weekly Returns		+1.76%

Data Source: BSE

For the week, Sensex gained +1,451 points or +1.76%. Festive cheer added a touch of panache to the domestic India stories like FMCG, banks, and autos. Sensex touched a weekly high of 84,172 and a low of 81,782; closing the week near the high point.

NIFTY 50 INDEX – FPI SENTIMENTS RUB-OFF ON NIFTY

Date	Open	High	Low	Close
17-Oct-25	25,546.85	25,781.50	25,508.60	25,709.85
16-Oct-25	25,394.90	25,625.40	25,376.85	25,585.30
15-Oct-25	25,181.95	25,365.15	25,159.35	25,323.55
14-Oct-25	25,277.55	25,310.35	25,060.55	25,145.50
13-Oct-25	25,177.30	25,267.30	25,152.30	25,227.35
10-Oct-25	25,167.65	25,330.75	25,156.85	25,285.35
		Weekly Returns		+1.68%

Data Source: NSE

FPIs were net buyers of $969 Million in the week. Major Q2 results have been positive, especially for the domestic stories. Nifty gained +425 points or +1.68%. Nifty touched a weekly high of 25,782 and low of 25,061; making a low above 25,000 levels.

NIFTY MID-CAP 100 INDEX – INTEREST WANING IN MID-CAPS

Date	Open	High	Low	Close
17-Oct-25	59,262.30	59,293.10	58,725.60	58,902.25
16-Oct-25	59,142.35	59,321.90	58,966.60	59,241.15
15-Oct-25	58,498.40	59,068.25	58,461.60	58,970.00
14-Oct-25	58,952.70	59,045.10	58,223.00	58,324.40
13-Oct-25	58,514.85	58,806.90	58,323.25	58,762.35
10-Oct-25	58,500.65	58,843.40	58,383.95	58,697.40
		Weekly Returns		+0.35%

Data Source: NSE

Mid-caps edged up +0.35% as institutional flows were limited to large caps. Nifty Mid-cap touched a weekly high of 59,322 and low of 58,223. As institutional flows build up, alpha hunting is likely to take a back seat for some time, focusing more on large caps.

NIFTY SMALL CAP 100 INDEX – TIME IS NOT RIGHT NOW

Date	Open	High	Low	Close
17-Oct-25	18,147.50	18,216.60	18,078.20	18,122.40
16-Oct-25	18,148.40	18,207.95	18,106.25	18,131.85
15-Oct-25	17,986.35	18,095.90	17,945.90	18,088.05
14-Oct-25	18,170.30	18,207.20	17,904.35	17,940.15
13-Oct-25	18,052.45	18,116.95	18,002.60	18,101.75
10-Oct-25	18,038.20	18,154.70	17,993.20	18,133.35
		Weekly Returns		-0.06%

Data Source: NSE

This week, Nifty Small Cap Index tapered by -0.06%, and a lot will depend on the quality of small cap companies Q2 results. Nifty Small-cap touched a weekly high of 18,217 and a low of 17,904; with the index stuck in a very narrow range for now.

BANK NIFTY INDEX – DOMESTIC PROXY STORY BUILDS UP

Date	Open	High	Low	Close
17-Oct-25	57,362.90	57,830.20	57,238.65	57,713.35
16-Oct-25	57,139.95	57,525.80	56,994.70	57,422.55
15-Oct-25	56,528.95	56,922.70	56,491.85	56,799.90
14-Oct-25	56,598.65	56,721.30	56,230.15	56,496.45
13-Oct-25	56,337.05	56,770.90	56,327.40	56,625.00
10-Oct-25	56,168.60	56,760.25	56,152.45	56,609.75
		Weekly Returns		+1.95%

Data Source: NSE

For the week, Nifty Bank rallied by +1,104 points or +1.95%; gaining over 6.1% in three weeks. Banks are already the best India proxies in the festive season. Bank Nifty touched weekly high of 57,830 and low of 56,230. The entire rally happened in the last 2 days.

NIFTY IT INDEX – CONCERNS ARE BACK ON IT SECTOR

Date	Open	High	Low	Close
17-Oct-25	35,356.50	35,356.50	34,872.95	34,950.70
16-Oct-25	35,443.70	35,574.25	35,229.60	35,531.05
15-Oct-25	35,327.20	35,571.60	35,226.15	35,401.80
14-Oct-25	35,542.85	35,766.25	35,148.40	35,214.85
13-Oct-25	35,397.20	35,505.35	35,072.40	35,330.80
10-Oct-25	35,705.65	35,821.30	35,321.85	35,609.05
		Weekly Returns		-1.85%

Data Source: NSE

After the +4.89% gain in previous week, it was back to reality for IT index as it fell -1.85%. Concerns over US tech spending have taken the form of lower sales guidance. IT Index touched a weekly high of 35,766 and a low of 35,072; amidst a stable dollar index.

NIFTY OIL & GAS INDEX – CAUTION AHEAD OF RIL RESULTS

Date	Open	High	Low	Close
17-Oct-25	11,505.20	11,530.60	11,433.35	11,498.10
16-Oct-25	11,447.65	11,505.05	11,396.15	11,493.60
15-Oct-25	11,388.00	11,456.05	11,352.85	11,431.40
14-Oct-25	11,472.30	11,544.55	11,330.15	11,348.80
13-Oct-25	11,440.60	11,451.40	11,340.00	11,436.05
10-Oct-25	11,473.55	11,544.95	11,453.20	11,467.25
		Weekly Returns		+0.27%

Data Source: NSE

The Oil index was cautious ahead of RIL results on Friday evening, which came in better than expected for the O2C business. Crude edged towards $61/bbl. That had a negative impact on upstream players. However, downstream oil & gas companies in India still stand to gain.

NIFTY AUTO INDEX – FESTIVE CHEER IS BACK IN AUTOS

Date	Open	High	Low	Close
17-Oct-25	27,045.30	27,300.70	27,033.55	27,228.60
16-Oct-25	26,782.15	27,109.60	26,756.75	27,048.75
15-Oct-25	26,706.15	26,809.20	26,618.45	26,708.65
14-Oct-25	26,749.90	26,760.35	26,495.95	26,640.55
13-Oct-25	26,662.05	26,824.60	26,592.05	26,698.15
10-Oct-25	26,574.60	26,801.35	26,468.05	26,721.20
		Weekly Returns		+1.90%

Data Source: NSE

The better-than-expected festive sales reports buoyed the auto index by 1.90%. Nifty Auto Index touched a weekly high of 27,301 and low of 26,496 levels. The combination of an India story, festive cheer, and GST cuts appear to be playing out on auto index performance.

NIFTY FMCG INDEX – UNEXPECTED RALLY ON Q2 RESULTS

Date	Open	High	Low	Close
17-Oct-25	55,862.70	56,834.95	55,840.40	56,616.40
16-Oct-25	54,799.55	55,902.30	54,733.05	55,853.90
15-Oct-25	54,295.30	54,837.80	54,270.35	54,748.70
14-Oct-25	54,530.95	54,610.60	54,142.30	54,213.75
13-Oct-25	54,735.05	54,941.75	54,368.50	54,473.85
10-Oct-25	54,696.60	55,023.20	54,595.95	54,966.45
		Weekly Returns		+3.00%

Data Source: NSE

Early Q2 numbers from the likes of Nestle India were very positive, leading to a sharp rally in FMCG during festive season. FMCG sector rallied +3.00% this week. Nifty FMCG Index touched a weekly high of 56,835 and low of 54,142 levels. Entire rally came in last 2 days!