India Weekly Market Wrap: Nifty & Sensex Dip; Bank & Fin Nifty Flat; INR Trades 86; Silver Shines, Gold Weakens (June 14–July 18, 2025)
By CapitalKeeper | Weekly Wrap Up| Indian Equities | Market Moves That Matter
Discover India’s market snapshot: Nifty slips under 25,100, Sensex down 500 pts, financials mixed, INR trades near ₹86, gold imports hit two‑year lows, silver rallies to ₹112 k/kg. Full analysis.
1️⃣ Equities: Nifty, Sensex & Financials
- Nifty 50 softened, dropping 0.4% on July 18 to 25,013, pressured by weak Axis Bank earnings and IT uncertainty.
- BSE Sensex slid 500 pts, settling at 81,921.
- Bank Nifty & Fin Nifty also declined 0.5–1.1%, hit hard by banking sector stress; Axis Bank plunged 4% after disappointing quarterly results.
- Mid-week, markets rebounded briefly on soft Indian inflation data (+0.45% Nifty).
- But broader rally lost momentum mid-July as IT sector concerns resurfaced: Nifty IT dropped 1.1% .
2️⃣ Currency: INR / USD
- The rupee traded in a tight band of ₹85.78–86.08, finishing near 86.08/USD on July 18.
- A mix of stable Asian FX, dollar strength tied to Fed leadership chatter, and exporter dollar sales held INR range‑bound.
- RBI’s active intervention and limited FII inflows prevented sharp moves.
3️⃣ Commodities: Gold, Silver & Oil
- Gold: Imports fell 40% in June—the lowest in over two years—as record-high prices (₹101,078 per 10 g) eroded demand.
- Silver: Continued outperforming gold—rising 30% YTD, hitting ₹112,500/kg—driven by industrial demand in solar and electronics.
- Crude Oil: Prices remained steady. Tariff headlines and Middle East geopolitics moderated market moves, providing mixed cues.
4️⃣ Key Week Drivers
- Earnings: Weak Q2 results from Axis Bank dented financial indices; IT guidance worry added pressure.
- Inflation & RBI: India’s retail inflation dipped to six-year lows, boosting expectations of rate cuts ; fuel for market relief mid-week.
- Fed & Dollar: U.S. inflation uptick and Trump-Fed rhetoric strengthened the dollar, pressuring INR.
- Rupee dynamics: Exporter dollar sales and RBI reserve accumulation cushioned INR moves.
- Commodities: Gold demand declined sharply; silver interest surged as industrial demand outpaces precious metal interest .
📊 Weekly Summary
| Asset | End Level | Weekly Move | Key Drivers |
|---|---|---|---|
| Nifty 50 | 24,968.40 | –0.4% | Weak banks, IT |
| Sensex | 81,757.73 | –0.6% | Financial drag |
| Bank Nifty | 56,283.00 | –0.5 to –1.1% | Axis Bank results |
| Fin Nifty | 26,556.15 | Financial sector pressure | |
| INR/USD | 86.08 | Range-bound | Dollar strength, RBI |
| Gold imports | – 40% YoY | Demand low | Record prices |
| Silver | ₹112,500/kg | +30% YTD | Industrial demand |
| Crude | Flat | Mixed cues | Global dynamics |
🔍 Outlook & Strategy
- Equities: Monitor Q2 bank & IT earnings for definitive trend. Financial recovery or sustained IT weakness will steer indices.
- Rupee: INR likely to stay in 85.7–86.2 band absent shift in Fed policy or FX flows.
- Commodities: Gold demand will remain subdued at high prices; silver’s industrial momentum may continue.
- Macro cues: Watch U.S. inflation/policy, RBI decisions, and global risk sentiment.
📝 Final Take
A cautious week: weak earnings and tight macro backdrop kept markets in check. Amid a strong dollar and subdued gold demand, silver soared. INR held tight, with RBI support. Next week’s market direction hinges on prominent earnings, U.S. inflation data, and fiscal policy cues.
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