Weekly Musings – Index performance for week ended September 05, 2025

8 Sep 2025 , 02:54 PM

FPIs were net sellers in equities worth $(1,394) Million this week. During the week, the VIX tapered from 11.75 to 10.78 levels; even touching a low of 9.95, clearly overcoming the fear factor in markets. Typically, this is the VIX level which triggers an upside in markets.

BSE SENSEX 30 INDEX – OPTIMISM FINALLY RETURNS TO MARKETS

Date	Open	High	Low	Close
05-Sep-25	81,012.42	81,036.56	80,321.19	80,710.76
04-Sep-25	81,456.67	81,456.67	80,608.94	80,718.01
03-Sep-25	80,295.99	80,671.28	80,004.60	80,567.71
02-Sep-25	80,520.09	80,761.14	80,008.50	80,157.88
01-Sep-25	79,828.99	80,406.84	79,818.38	80,364.49
29-Aug-25	80,010.83	80,310.74	79,741.76	79,809.65
		Weekly Returns		+1.13%

Data Source: BSE

For the week, Sensex bounced by +905 points or +1.13%. The bounce came after India showed diplomatic panache at the SCO in Tianjin. Sensex touched a weekly high of 81,457 and a low of 79,818; albeit remaining in a tight range.

NIFTY 50 INDEX – DOMESTIC BUYING BACK WITH A BANG

Date	Open	High	Low	Close
05-Sep-25	24,818.85	24,832.35	24,621.60	24,741.00
04-Sep-25	24,980.75	24,980.75	24,708.20	24,734.30
03-Sep-25	24,616.50	24,737.05	24,533.20	24,715.05
02-Sep-25	24,653.00	24,756.10	24,522.35	24,579.60
01-Sep-25	24,432.70	24,635.60	24,432.70	24,625.05
29-Aug-25	24,466.70	24,572.45	24,404.70	24,426.85
		Weekly Returns		+1.29%

Data Source: NSE

FPIs were net sellers of $(1,394) Million, but domestic players made up for the shortfall. Nifty bounced by +314 points or +1.29%. India’s matured response to the tariffs enthused markets to a large extent. Nifty touched a weekly high of 24,981 and low of 24,433.

NIFTY MID-CAP 100 INDEX – MORE CONFIDENCE IN ALPHA HUNTING

Date	Open	High	Low	Close
05-Sep-25	57,132.65	57,416.60	56,724.60	57,075.20
04-Sep-25	57,970.60	57,970.60	56,886.80	56,959.15
03-Sep-25	57,070.20	57,386.00	56,944.25	57,345.50
02-Sep-25	57,007.05	57,260.05	56,640.20	56,977.40
01-Sep-25	55,903.50	56,858.75	55,895.25	56,825.50
29-Aug-25	56,012.00	56,348.35	55,660.35	55,727.40
		Weekly Returns		+2.42%

Data Source: NSE

The mid-cap index has been shining even in tough market conditions, and the change in sentiments helped the mid-cap index. Nifty Mid-cap touched a weekly high of 57,971 and low of 55,895. The mid-cap index shows deep interest in alpha hunting in markets.

NIFTY SMALL CAP 100 INDEX – CONFIDENT BUT CAUTIOUS

Date	Open	High	Low	Close
05-Sep-25	17,657.95	17,780.00	17,578.00	17,655.25
04-Sep-25	17,925.40	17,936.45	17,599.85	17,621.95
03-Sep-25	17,626.55	17,770.65	17,576.40	17,748.45
02-Sep-25	17,571.10	17,686.25	17,474.35	17,591.30
01-Sep-25	17,273.30	17,519.60	17,263.40	17,498.10
29-Aug-25	17,301.50	17,405.05	17,209.75	17,227.00
		Weekly Returns		+2.49%

Data Source: NSE

This week, Nifty Small Cap Index bounced by +2.49%, although a tepid Q1FY26 will weight on small caps. There was caution, amidst the small cap euphoria. Nifty Small-cap touched a weekly high of 17,936 and a low of 17,263; but hinted at caution at higher levels.

BANK NIFTY INDEX – POSITIVE AMID NIM AND NPA HEADWINDS

Date	Open	High	Low	Close
05-Sep-25	54,308.05	54,308.05	53,719.55	54,114.55
04-Sep-25	54,379.60	54,450.55	53,971.85	54,075.45
03-Sep-25	53,630.75	54,136.15	53,561.75	54,067.55
02-Sep-25	54,038.25	54,160.95	53,578.00	53,661.00
01-Sep-25	53,658.15	54,035.85	53,658.15	54,002.45
29-Aug-25	53,660.35	54,086.00	53,606.45	53,655.65
		Weekly Returns		+0.86%

Data Source: NSE

For the week, Nifty Bank bounced by +459 points or +0.86%. Even as banks showed macro participation, NPAs and NIMs are an overhang. Bank Nifty touched weekly high of 54,451 and low of 53,562. Banks tend to have an oversized impact on the Nifty index.

NIFTY IT INDEX – QUESTION MARKS OVER TECH SPENDING

Date	Open	High	Low	Close
05-Sep-25	35,234.75	35,331.50	34,343.40	34,635.85
04-Sep-25	35,580.60	35,599.30	35,093.40	35,143.10
03-Sep-25	35,807.95	35,832.00	35,293.10	35,474.95
02-Sep-25	35,767.00	36,061.10	35,541.20	35,737.90
01-Sep-25	35,255.30	35,787.70	35,255.30	35,740.65
29-Aug-25	35,491.60	35,575.20	35,130.35	35,181.25
		Weekly Returns		-1.55%

Data Source: NSE

After edging lower by -0.73% in the previous week, the IT index fell by -1.55% this week. The IT Index touched a weekly high of 36,061 and a low of 34,343. The IT companies saw a sharp sell-off on Friday amid renewed concerns over the trajectory of global tech spending.

NIFTY OIL & GAS INDEX – BOUNCES AMID LOWER CRUDE PRICES

Date	Open	High	Low	Close
05-Sep-25	10,939.05	10,991.20	10,870.35	10,933.70
04-Sep-25	11,063.45	11,076.10	10,910.65	10,923.15
03-Sep-25	11,015.85	11,093.10	10,998.70	11,029.40
02-Sep-25	10,951.05	11,096.05	10,950.55	11,002.90
01-Sep-25	10,800.90	10,945.80	10,757.50	10,935.35
29-Aug-25	10,881.60	10,935.55	10,766.15	10,789.75
		Weekly Returns		+1.33%

Data Source: NSE

After a sharp fall of -3.02% last week, Nifty Oil & Gas Index gained +1.33% this week. Brent crude prices trended lower to $65.55/bbl, which is helpful to downstream. For now, the global oil supply looks to be in balance, as India is likely to continue Russian oil purchases.

NIFTY FMCG INDEX – ENDS THE WEEK WITH TEPID GAINS

Date	Open	High	Low	Close
05-Sep-25	57,176.15	57,217.75	56,012.00	56,292.10
04-Sep-25	58,485.05	58,485.05	57,019.55	57,104.05
03-Sep-25	56,955.90	57,063.25	56,702.90	56,969.20
02-Sep-25	56,210.20	56,882.60	56,191.70	56,806.60
01-Sep-25	56,140.00	56,212.15	55,901.30	56,175.20
29-Aug-25	55,687.25	56,565.00	55,594.45	56,141.85
		Weekly Returns		+0.27%

Data Source: NSE

After bouncing by 2.75% in the last 2 weeks, the FMCG index gave a tepid performance in the latest week. FMCG has been a solid defensive domestic play. Nifty FMCG Index touched a weekly high of 58,485 and low of 55,901 levels. Urban demand concerns have reduced.