Nifty gained 0.7% this week.
Nifty gained 0.7% this week. That's not the real story. Market rotation is underway. → Midcap Nifty surged 5% → Hit a new all-time high → Largecaps are 8% away from their peak Monday's level to watch: 24,200 Below that, 24,000-23,900 #Nifty #Midcaps
Market Snapshot — Close
Day Change
Week in Review
The Nifty closed the week at 24,176.15, down -0.62% on the final session, while the Sensex settled at 77,328.19, declining -0.66% [citation:1][citation:8]. The Bank Nifty plunged over -1% to close just above 55,300 [citation:2]. The India VIX — the fear gauge — rose approximately +2% to 16.92 [citation:5]. The week was defined by extreme volatility driven by Middle East headlines. Markets initially rallied on hopes of a US-Iran peace deal, but reversed sharply after fresh military exchanges near the Strait of Hormuz sent Brent crude spiking back above $100/barrel [citation:1][citation:10]. The biggest single-day swing occurred on May 8, with the Nifty falling 150 points as geopolitical risk overwhelmed dip-buying sentiment.
Sector Scorecard
- IT (up ~1% weekly): A defensive haven. The rupee weakening past 94.5/ USD boosted dollar earners. Infosys and HCL Tech gained 1-2% on the final session [citation:4][citation:5].
- Pharma (up ~0.5% weekly): Resilient amid the sell-off. Domestic-focused players saw selective buying as a hedge against volatility. Sun Pharma was a notable outperformers [citation:1][citation:8].
- FMCG (flat to green): Staples held firm. Hindustan Unilever gained as investors sought earnings visibility away from the commodity cycle [citation:8].
- PSU Bank (down -3% weekly): The worst performer by a wide margin. State Bank of India (SBI) crashed 7% on May 8 after disappointing Q4 earnings, dragging the entire sub-sector down [citation:5].
- Oil & Gas / Realty (down -1.5% to -2%): Crude at $100 acts as a direct tax on earnings for OMCs and weakens real estate affordability. BPCL and DLF saw sustained selling pressure [citation:4][citation:8].
FII / DII Flow Summary
For the session on May 8, F