26 February 2024: Nifty 50 Today’s Performance
On the trading session of 26 February 2024, the NSE Nifty commenced with a slight setback, opening at 22,169.20, down by 43 points from its previous close of 22,212.70. Despite an initial high of 22,202.15 around 9:45 AM, the Nifty struggled to maintain momentum, eventually dipping to a low of 22,075.15 by noon. Throughout the day, fluctuating movements characterized the Nifty Spot, which concluded at 22,122.05, indicating a marginal loss of 0.41% compared to the previous close.
Bank Nifty’s Performance on 26 February 2024
Similarly, Bank Nifty today opened at 46,615.85, exhibiting a decline of 196 points from its previous close of 46,811.75. Despite an early surge to 46,893.15 around 9:45 AM, the index faced pressure amid Nifty’s weakness, touching a low of 46,513.55. Ultimately, Bank Nifty concluded the trading session at 46,576.50, marking a loss of 0.50%, slightly weaker than Nifty 50’s performance.
FII and DII Cash Activity on 26 February 2024
Institutional activities in the cash segment witnessed a subdued tone on 26 February 2024. Foreign Institutional Investors (FIIs) offloaded shares worth 285.15 crores, while Domestic Institutional Investors (DIIs) also divested equity worth 5.33 crores. This absence of institutional cash support notably influenced the market sentiment. Moreover, the long-to-short ratio in FII’s Index futures rose to 0.82, indicating a shift in their trading stance from the previous session’s ratio of 0.78.
FII Derivative Statistics for 26 February 2024
You can download the image below containing the FII derivative statistics for 26 February 2024.
Nifty 50: Top Gainers and Losers
Within the NSE Nifty Index, certain stocks emerged as top gainers and losers. Notable gainers included Larsen & Toubro (LT), POWERGRID, and Adani Enterprises (ADANIENT). Conversely, Asian Paints (ASIANPAINT), Apollo Hospitals (APOLLOHOSP), and Hindalco Industries (HINDALCO) experienced declines during the trading session.
NiftyBank: Top Performers and Underperformers
In the Bank Nifty Index, IDFC First Bank (IDFCFIRSTB), HDFC Bank, and Bank of Baroda (BANKBARODA) stood out as top gainers. Conversely, Bandhan Bank (BANDHANBNK), Punjab National Bank (PNB), and AU Small Finance Bank (AUBANK) faced downward pressure, registering losses.
Also Read:
- 27 February 2024: NSE Share Market Surges
- On 23 February 2024 Nifty 50 Marks Intriguing Trends
- 22 February 2024 New Highs for NSE Share Market as Nifty 50 Marks Record Close
Sectoral Performance in Nifty Indices
The NSE Nifty Index encompasses various sectoral indices, each representing a specific segment of the market. These sectoral indices provide insights into the performance of different industries within the broader market context. Let’s delve into the performance of some key sectoral indices within Nifty on 26 February 2024:
- Nifty Next 50: The Nifty Next 50 index tracks the performance of the next set of 50 companies after the Nifty 50. On 26 February 2024, the Nifty Next 50 displayed a marginal growth, opening at 59,146.85 and closing at 59,198.55, representing a change of 0.08%. This index offers investors exposure to mid-cap companies and serves as a barometer for broader market trends beyond the top 50 stocks.
- Nifty Midcap 50: The Nifty Midcap 50 index comprises 50 mid-sized companies listed on the NSE. These companies have a market capitalization that falls between those of Nifty 50 and Nifty Smallcap 250. On 26 February 2024, the Nifty Midcap 50 experienced a slight decline, opening at 14,069.35 and closing at 13,977.90, indicating a change of -0.60%. This index reflects the performance of mid-cap stocks and provides investors with exposure to companies beyond large-cap and small-cap segments.
- Nifty Auto: The Nifty Auto index tracks the performance of automobile manufacturers and ancillary companies. On 26 February 2024, the Nifty Auto index showcased a mixed performance, opening at 20,633.45 and closing at 20,642.40, with a marginal change of 0.10%. This index includes companies engaged in the production of automobiles, auto components, and tires.
- Nifty FMCG: The Nifty FMCG index comprises fast-moving consumer goods (FMCG) companies. These companies produce essential consumer goods with a relatively constant demand. On 26 February 2024, the Nifty FMCG index witnessed a slight decline, opening at 54,312.60 and closing at 54,317.30, indicating a change of -0.04%. This index encompasses companies involved in food and beverages, personal care, household products, and tobacco industries.
- Nifty IT: The Nifty IT index tracks the performance of information technology (IT) companies listed on the NSE. These companies provide software services, IT consulting, and technology solutions globally. On 26 February 2024, the Nifty IT index experienced a notable decline, opening at 37,991.90 and closing at 37,598.65, marking a change of -1.17%. This index includes leading IT firms involved in software development, IT outsourcing, and digital services.
- Nifty Metal: The Nifty Metal index comprises companies engaged in metal production, mining, and processing. On 26 February 2024, the Nifty Metal index witnessed a decline, opening at 8,058.50 and closing at 7,971.75, indicating a change of -0.94%. This index includes companies involved in the production of steel, aluminum, copper, and other metals.
- Nifty Pharma: The Nifty Pharma index tracks the performance of pharmaceutical companies. These companies are involved in the research, development, manufacturing, and marketing of pharmaceutical products. On 26 February 2024, the Nifty Pharma index experienced a slight decline, opening at 19,065.05 and closing at 18,956.45, with a change of -0.48%. This index includes pharmaceutical giants and biotechnology firms.
- Nifty PSU Bank: The Nifty PSU Bank index comprises public sector banks in India. On 26 February 2024, the Nifty PSU Bank index witnessed a decline, opening at 7,063.90 and closing at 7,040.65, marking a change of -0.5%. This index reflects the performance of government-owned banks and financial institutions.
- Nifty Oil & Gas: The Nifty Oil & Gas index tracks the performance of companies operating in the oil and gas sector. This includes exploration, production, refining, and distribution of oil and gas products. On 26 February 2024, the Nifty Oil & Gas index displayed a slight increase, opening at 11,757.45 and closing at 11,769.90, indicating a change of 0.12%.
In summary, sectoral indices within the Nifty provide investors with a comprehensive view of the performance of specific industries within the Indian stock market. These indices serve as valuable tools for portfolio diversification and sectoral analysis, allowing investors to make informed decisions based on the performance of various sectors.
Option Chain Data Analysis
Examining the option chain data for Nifty and Bank Nifty with a 29 February 2024 expiry date, notable changes in open interest were observed. In the Nifty option chain, significant increases were noted in Open Interest Calls for 22200CE, 22100CE, and 22300CE. Conversely, declines were recorded in Open Interest Puts for 22000PE and 22300PE. Meanwhile, in the Bank Nifty option chain, notable changes were witnessed in Open Interest Calls for 46500CE, 46600CE, and 46700CE, along with variations in Open Interest Puts for 47000PE and 46600PE.
In conclusion, the trading session of 26 February 2024 reflected mixed sentiments across various indices, influenced by factors such as institutional activity, individual stock performances, and options market dynamics. Investors remain attentive to market trends and developments as they navigate through the evolving landscape of the financial markets.