20 February 2024: Nifty 50 Today
On 20 February 2024, the Nifty 50 index kicked off the trading session on a slightly negative note, opening with a loss of 23 points at 22,099.20 compared to the previous day’s close of 22,122.25. Amidst early trade, Nifty 50 dipped to a low of 22,045.85. However, the index quickly regained momentum, surging to a high of 22,177 around noon. Subsequently, the Nifty fluctuated before rallying once more to reach 22,215.60. Ultimately, the index concluded the day near its peak, closing at 22,196.95, marking a commendable gain of 0.34%. This closing not only reflected positive market sentiment but also set a new record high for the Share Market.
Bank Nifty Today: A Star Performer
In contrast to Nifty 50, Bank Nifty emerged as the star performer in today’s trade. Opening at 46,444.90 with a slight loss of 90 points compared to the previous close of 46,535.50, Bank Nifty witnessed early fluctuations, reaching a low of 46,367.80. However, the index swiftly reversed its trajectory, surging to a high of 47,136.75 during the day. With remarkable strength, Bank Nifty closed at 47,094.20, reflecting a substantial gain of 1.20%. This performance underscored the robustness of the banking sector, outshining Nifty in terms of gains.
FII DII Cash Data
Analyzing FII/FPI and DII cash trading activity on 20 February 2024 provides valuable insights into institutional investor behavior. While DIIs exhibited bullish sentiment with equity purchases worth 1,491.33 crores, FIIs engaged in selling, with net sales amounting to 1,335.51 crores in the cash segment. Notably, this marked another day of FII selling, indicating cautious investor sentiment amidst market fluctuations. Additionally, the long-to-short ratio in FII index futures continued its upward trend, reaching 0.69, suggesting a growing preference for short positions.
FII Derivative Statistics for 20 February 2024
You can download the image below containing the FII derivative statistics for 20 February 2024.
NSE Nifty: Performance Overview
The NSE Nifty index demonstrated resilience and strength throughout the trading session on 20 February 2024. Opening at 22,099.20, the index experienced intraday fluctuations, with a high of 22,215.60 and a low of 22,045.85. Despite brief dips into the red, Nifty managed to sustain upward momentum, ultimately closing at 22,196.95, marking a gain of 0.34%. Notable gainers in the Nifty index included POWERGRID, HDFCBANK, and AXISBANK, while HEROMOTOCO, BAJAJ-AUTO, and EICHERMOT emerged as top losers.
BankNifty: Notable Performance Metrics
BankNifty showcased remarkable strength and resilience on 20 February 2024, buoyed by positive market sentiment. Opening at 46,444.90, the index witnessed fluctuations throughout the day, with a high of 47,136.75 and a low of 46,367.80. With a substantial gain of 1.20%, BankNifty closed at 47,094.20, outperforming Nifty in terms of percentage gains. Noteworthy gainers in the BankNifty index included HDFCBANK, AXISBANK, and KOTAKBANK, while FEDERALBNK, BANDHANBNK, and IDFCFIRSTB registered losses.
Also Read:
- 21 February 2024: Performance of NSE Share Bazaar
- Nifty 50 Today: Steady Performance On 16 February 2024 Amid Volatility
- 19 February 2024: Nifty Fifty Today
NIFTY NEXT 50
The NIFTY Next 50 index, often referred to as the junior NIFTY, is composed of the 50 companies that follow the NIFTY 50 index in terms of market capitalization. On the trading day under review, the NIFTY Next 50 opened at 58,702.40 and reached a high of 58,767.20. It experienced some fluctuations during the trading session, with a low of 58,428.25. Ultimately, the index closed slightly higher at 58,706.40 compared to the previous close of 58,650.30, marking a change of 0.10%.
NIFTY MIDCAP 50
The NIFTY Midcap 50 index tracks the performance of the top 50 companies with medium market capitalization listed on the National Stock Exchange (NSE). On the day in question, it opened at 14,001.20 and reached a high of 14,027.65. However, it dipped to a low of 13,922.40 during the trading session. The index closed at 13,984.00, slightly lower than the previous close of 14,022.25, with a change of -0.27%.
NIFTY AUTO
The NIFTY Auto index comprises companies engaged in the manufacturing of automobiles and auto components. On this trading day, it opened at 20,459.35 and saw a high of 20,480.40. However, it experienced a decline, reaching a low of 20,239.50. Ultimately, the index closed at 20,354.25, indicating a decrease of -0.62% compared to the previous close of 20,481.60.
NIFTY FMCG
The NIFTY FMCG index tracks the performance of companies engaged in the fast-moving consumer goods (FMCG) sector. It opened at 53,981.40 and reached a high of 54,027.15 during the trading session. However, it faced some downward pressure, dropping to a low of 53,552.55. The index closed at 53,882.50, reflecting a decrease of -0.11% from the previous close of 53,943.30.
NIFTY IT
The NIFTY IT index comprises companies operating in the information technology sector. It opened at 38,190.75 and reached a high of 38,347.90. However, it faced downward movement, touching a low of 37,780.20. Ultimately, the index closed at 38,029.70, indicating a decrease of -0.87% compared to the previous close of 38,363.15.
NIFTY METAL
The NIFTY Metal index tracks the performance of companies engaged in the metal and mining sector. It opened at 8,004.55 and reached a high of 8,007.50 during the trading session. However, it experienced some decline, reaching a low of 7,904.50. The index closed at 7,955.80, indicating a decrease of -0.32% from the previous close of 7,981.25.
NIFTY PHARMA
The NIFTY Pharma index comprises companies involved in the pharmaceutical sector. On 20 February 2024, it opened at 19,059.55 and reached a high of 19,076.80. However, it faced some downward pressure, dropping to a low of 18,802.20. The index closed at 18,993.00, reflecting a decrease of -0.23% from the previous close of 19,037.70.
NIFTY PSU BANK
The NIFTY PSU Bank index tracks the performance of public sector banks in India. It opened at 7,110.50 and reached a high of 7,150.40. However, it faced fluctuations during the trading session, reaching a low of 7,081.85. The index closed at 7,101.20, indicating no change from the previous close of 7,101.40.
NIFTY OIL & GAS
On 20 February 2024, the NIFTY Oil & Gas index comprises companies involved in the exploration, production, refining, and marketing of oil and gas products. It opened at 11,921.35 and reached a high of 11,982.20. It experienced fluctuations, touching a low of 11,788.00. The index closed at 11,943.35, indicating an increase of 0.20% from the previous close of 11,919.70.
Option Chain Data Insights
Examining option chain data for Nifty and BankNifty sheds light on market sentiment and expectations. For the Nifty option chain with a 22 February 2024 expiry, notable changes were observed in open interest (OI) for both call and put options, particularly in the 22100CE and 22100PE strikes. Meanwhile, BankNifty’s option chain with a 21 February 2024 expiry witnessed significant changes in OI, notably in the 47200CE and 47000PE strikes. These changes reflect evolving market dynamics and investor strategies ahead of the respective expiry dates.
Conclusion
The trading session on 20 February 2024 witnessed dynamic movements in the Share Market, with Nifty and BankNifty showcasing notable performances. Despite initial losses, Nifty 50 managed to close with a commendable gain, setting a new high. BankNifty emerged as the star performer of the day, reflecting the resilience of the banking sector. Institutional trading patterns highlighted cautious investor sentiment, with FIIs continuing to sell in the cash segment. As investors navigate through evolving market conditions, staying informed about key indices and institutional activities remains crucial for making informed investment decisions.