NSE Share Bazaar

Explore the dynamic shifts in the NSE Share Bazaar on 28 February 2024, including Nifty and Bank Nifty performance, institutional activity, sectoral analysis, and option chain insights. Gain valuable insights for informed decision-making amidst market volatility.

28 February 2024: NSE Share Bazaar Overview

On 28 February 2024, the NSE Share Bazaar commenced on a positive note, gaining 16 points from the previous close to open at 22,214.10. The market sentiment was initially optimistic as the Nifty Fifty soared to a high of 22,229.15 during the opening trade. However, the bullish momentum subsided later in the day, leading to a downward spiral. Around 10:40 AM, the market witnessed sudden selling pressure, causing the Nifty to plummet to a low of 21,915.85. Despite attempts at recovery post-1 PM, the bearish trend persisted, ultimately resulting in the Nifty closing at 21,951.15, marking a loss of 1.11%. Notably, it’s crucial to observe that tomorrow signals the monthly expiry of derivative contracts, which could significantly impact market dynamics.

Today’s NSE Share Bazaar

NiftyBank Performance on 28 February 2024

Simultaneously, on the same day, Bank Nifty opened with a gain of 52 points at 46,640.90 compared to the previous day’s close. The initial optimism saw the NiftyBank reaching a high of 46,754.55 by 10:25 AM. However, similar to the Nifty, the banking index succumbed to selling pressure, witnessing a dip to 45,852.55. Despite sporadic attempts at recovery, bears dominated the scene, leading to a closing figure of 45,963.15, marking a loss of 1.34%, surpassing the downturn experienced by Nifty50.

Institutional Cash Activity: FII vs. DII

The institutional activity on 28 February 2024 saw Foreign Institutional Investors (FII) offloading stocks worth 1,879.23 crores in the cash segment. Conversely, Domestic Institutional Investors (DII) displayed a contrasting trend by purchasing equities valued at 1,827.45 crores in the cash segment. Despite this equilibrium in buying and selling from institutional players, the NSE Share Bazaar observed a decline exceeding 1 percent. Furthermore, the long-to-short ratio in FII’s Index futures fell from 0.84 to 0.83, highlighting a shift in market sentiment.

FII Derivative Statistics for 28 February 2024

You can download the image below containing the FII derivative statistics for 28 February 2024

Nifty and Bank Nifty Performance Metrics

Nifty, the benchmark index, experienced a tumultuous trading session on 28 February 2024. The index opened at 22,214.10 and peaked at 22,229.15 but succumbed to selling pressure, closing at 21,951.15, indicating a decline of 1.11% from the previous close. Conversely, Bank Nifty opened at 46,640.90, reaching a high of 46,754.55 before settling at 45,963.15, marking a loss of 1.34% compared to the previous day’s close.

Top Gainers and Losers

In the Nifty Index Movers, notable gainers included HINDUNILVR, BHARTIARTL, and INFY, while POWERGRID, BAJAJ-AUTO, and APOLLOHOSP emerged as the top losers. In the Bank Nifty Index, all stocks concluded in red, with AUBANK, IDFCFIRSTB, and BANKBARODA recording significant losses.

Also Read:

• 29 February 2024: Nifty Fifty Today and FII/DII Data
• 27 February 2024: NSE Share Market Surges
• 26 February 2024: NSE Nifty Fifty’s Performance Unveiled

Sectoral Performance

The Sectoral Indices encompass various sectors, each contributing uniquely to the overall market performance. On 28 February 2024, the sectoral performance within the Nifty Index depicted a mixed picture, reflecting the diverse trends and sentiments prevailing in different segments of the economy.

• Nifty Next 50: This index represents the performance of the next set of 50 stocks listed on the NSE in terms of market capitalization. Despite opening at 59,296.00, it experienced a decline throughout the trading session, closing at 58,387.30, marking a loss of 1.29% from the previous day’s close. This suggests a general downturn among mid-cap stocks.
• Nifty Midcap 50: Reflecting the performance of mid-sized companies, the Nifty Midcap 50 opened at 13,956.85 and closed at 13,618.25, indicating a decline of 2.25%. This segment witnessed considerable volatility, possibly influenced by market-wide factors impacting mid-cap stocks.
• Nifty Auto: The Nifty Auto index, comprising automobile companies, opened at 20,808.40 and closed at 20,372.35, marking a decline of 2.00%. Factors such as changes in consumer sentiment, regulatory developments, and input costs may have influenced the performance of this sector.
• Nifty FMCG: FMCG (Fast-Moving Consumer Goods) companies constitute the Nifty FMCG index. Despite opening at 54,406.30, the sector witnessed a decline, closing at 53,824.90, down by 0.89%. Consumer spending patterns, input costs, and competitive dynamics could have impacted the performance of FMCG stocks.
• Nifty IT: The IT sector, represented by the Nifty IT index, opened at 37,926.65 and closed at 37,741.75, marking a marginal decline of 0.34%. Factors such as global economic conditions, currency fluctuations, and demand for IT services may have influenced the performance of IT stocks.
• Nifty Metal: The Nifty Metal index, comprising metal and mining companies, opened at 8,030.90 and closed at 7,850.35, indicating a decline of 1.88%. This sector is often sensitive to factors such as commodity prices, global demand, and trade policies.
• Nifty Pharma: Pharma companies form the Nifty Pharma index. Opening at 19,094.40 and closing at 18,942.55, the sector experienced a decline of 0.64%. Regulatory developments, R&D pipeline, and global health trends are crucial factors influencing pharma stock performance.
• Nifty PSU Bank: PSU (Public Sector Undertaking) banks constitute the Nifty PSU Bank index. This segment opened at 7,002.40 and closed at 6,840.60, marking a decline of 2.30%. Factors such as asset quality, regulatory compliance, and government policies impact the performance of PSU banks.
• Nifty Oil & Gas: The Nifty Oil & Gas index represents companies in the oil and gas sector. Opening at 11,684.50 and closing at 11,441.60, the sector saw a decline of 2.08%. Factors such as oil prices, global demand-supply dynamics, and regulatory changes influence the performance of oil and gas stocks.

Overall, the sectoral performance within the Nifty Index on 28 February 2024 reflected a broad-based decline, influenced by a combination of macroeconomic factors, sector-specific developments, and market sentiment. Investors closely monitored these sectors for insights into prevailing market trends and potential investment opportunities.

Option Chain Analysis

The option chain data for NIFTY and BANKNIFTY, with a 29 February 2024 expiry, revealed significant changes in open interest for both calls and puts. Notably, for NIFTY, 22000CE and 22100CE witnessed notable increases in open interest calls, while 22000PE and 22100PE experienced declines in open interest puts. Similarly, in BANKNIFTY, 46000CE and 45900CE saw notable increases in open interest calls, whereas 46000PE and 46500PE observed declines in open interest puts.

In conclusion, the trading session on 28 February 2024 depicted a volatile market scenario influenced by various factors, including institutional activity, sectoral performance, and derivative contracts’ expiry. As investors gear up for the upcoming trading day on 29 February 2024, cautious optimism prevails amidst the prevailing market uncertainty.

On the trading day of 27 February 2024, the National Stock Exchange (NSE) Nifty commenced its journey with a slight setback, witnessing a loss of 32 points at 22,090.20 compared to the previous day’s closure at 22,122.05. However, this dip was short-lived as the Nifty Fifty swiftly recovered, marking a low of 22,085.65 in the opening trade but later surging to an impressive high of 22,218.25. The positive momentum continued throughout the day, with the Nifty spot ultimately closing at 22,198.35, nearing its day’s peak. Notably, the Nifty Spot concluded the session with a gain of 0.34%, showcasing resilience despite the initial downtrend.

Today’s NSE Share Bazaar

Bank Nifty Today: A Tale of Recovery

In parallel with the Nifty, Bank Nifty commenced its trading session on 27 February 2024 with a loss, opening 96 points lower at 46,480.20 compared to the previous day’s close at 46,576.50. Despite an early dip and hitting a low of 46,324.90 around 10:20 AM, Bank Nifty showcased a remarkable recovery trajectory. Subsequently, it reached a high of 46,722.25 during the day, managing to close in the green territory. However, Bank Nifty’s gain of 0.02% lagged behind the Nifty Fifty’s performance, indicating a nuanced market sentiment.

Also Read:

• NSE Share Bazaar Analysis on 28 February 2024
• 26 February 2024: NSE Nifty Fifty’s Performance Unveiled
• On 23 February 2024 Nifty 50 Marks Intriguing Trends

FII and DII Cash Activity on 27 February 2024 Highlights Institutional Strength

On 27 February 2024, Foreign Institutional Investors (FIIs) exhibited significant activity in the cash segment by selling equities worth 1,509.16 crores, contrasting with Domestic Institutional Investors (DIIs) who bought equities worth 2,861.56 crores. This robust institutional involvement underscored the day’s trading in the NSE Share Market, contributing to market dynamics. Moreover, the long-to-short ratio in FII Index futures increased to 0.84 from the previous session’s 0.82, further reflecting the institutional sentiment driving market movements.

FII Derivative Statistics for 27 February 2024

You can refer to the image below containing the FII derivative statistics for 27 February 2024.

Nifty50 Performance Overview

The Nifty50 index, a benchmark for Indian equity markets, demonstrated resilience on 27 February 2024 despite early setbacks. Opening at 22,090.20, it navigated through volatile waters to achieve a high of 22,218.25. Ultimately, the index closed at 22,198.35, marking a positive change of 0.34% from the previous day’s close. Notable gainers in the Nifty50 index included TATAMOTORS, POWERGRID, and TCS, while notable losers encompassed HEROMOTOCO, BAJFINANCE, and SBIN, reflecting varied sectoral performances.

BankNifty Index Insights

The BankNifty index, representing the banking sector’s performance, witnessed fluctuations on 27 February 2024. Despite an initial loss, it rallied throughout the trading session, reaching a high of 46,722.25 and ultimately closing in the green with a marginal gain of 0.02%. Top gainers in the BankNifty index included FEDERALBNK, INDUSINDBK, and AUBANK, while prominent losers comprised SBIN, PNB, and IDFCFIRSTB, showcasing the nuanced performance within the banking sector.

Sectoral Performance Analysis

• NIFTY NEXT 50: The NIFTY NEXT 50 index represents the performance of the next 50 companies listed on the NSE after the Nifty 50. On 27 February 2024, it opened at 59,246.05 and witnessed fluctuations throughout the day, hitting a high of 59,633.60 and a low of 58,885.05. Ultimately, it closed slightly lower at 59,150.65, marking a marginal decrease of 0.08% from the previous day’s close. This index provides insights into the performance of mid-sized companies and their contribution to the broader market sentiment.
• NIFTY MIDCAP 50: The NIFTY MIDCAP 50 index comprises the top 50 mid-sized companies listed on the NSE. On 27 February 2024, it opened at 13,984.40 and experienced fluctuations during the trading session. It reached a high of 14,063.75 and a low of 13,866.20 before closing at 13,931.95, reflecting a decrease of 0.33% from the previous day’s close. The performance of this index offers insights into the mid-cap segment of the market and its relative strength compared to larger companies.
• NIFTY AUTO: The NIFTY AUTO index tracks the performance of companies in the automobile sector. On 27 February 2024, it opened at 20,633.40 and displayed positive momentum throughout the day. It reached a high of 20,825.85 and a low of 20,593.00, ultimately closing at 20,788.55, marking a notable increase of 0.71% from the previous day’s close. This index reflects investor sentiment towards the automotive industry, which plays a crucial role in the Indian economy.
• NIFTY FMCG: The NIFTY FMCG index monitors the performance of companies in the fast-moving consumer goods sector. On 27 February 2024, it opened at 54,342.80 and experienced fluctuations during the trading session. It reached a high of 54,456.65 and a low of 54,128.40 before closing at 54,306.45, reflecting a slight decrease of 0.02% from the previous day’s close. This index provides insights into consumer demand trends and the performance of FMCG companies in the market.
• NIFTY IT: The NIFTY IT index tracks the performance of companies in the information technology sector. On 27 February 2024, it opened at 37,606.70 and displayed positive momentum throughout the day. It reached a high of 37,929.30 and a low of 37,606.70, ultimately closing at 37,870.25, marking a significant increase of 0.72% from the previous day’s close. This index reflects investor sentiment towards the IT industry, which is a key driver of India’s economic growth.
• NIFTY METAL: The NIFTY METAL index monitors the performance of companies in the metal and mining sector. On 27 February 2024, it opened at 7,987.50 and witnessed fluctuations during the trading session. It reached a high of 8,016.45 and a low of 7,957.00 before closing at 8,000.55, reflecting a moderate increase of 0.36% from the previous day’s close. This index provides insights into the performance of metal companies and their correlation with global commodity prices.
• NIFTY PHARMA: The NIFTY PHARMA index tracks the performance of companies in the pharmaceutical sector. On 27 February 2024, it opened at 18,946.45 and displayed positive momentum throughout the day. It reached a high of 19,075.85 and a low of 18,897.45, ultimately closing at 19,064.20, marking a notable increase of 0.57% from the previous day’s close. This index reflects investor sentiment towards the pharmaceutical industry, which is vital for healthcare and contributes significantly to India’s GDP.
• NIFTY PSU BANK: The NIFTY PSU BANK index monitors the performance of public sector banks listed on the NSE. On 27 February 2024, it opened at 7,054.45 and experienced fluctuations during the trading session. It reached a high of 7,079.80 and a low of 6,944.05 before closing at 7,001.40, reflecting a decrease of 0.56% from the previous day’s close. This index provides insights into the performance of PSU banks and their role in India’s banking sector.
• NIFTY OIL & GAS: The NIFTY OIL & GAS index tracks the performance of companies in the oil and gas sector. On 27 February 2024, it opened at 11,755.20 and witnessed fluctuations during the trading session. It reached a high of 11,778.25 and a low of 11,616.45 before closing at 11,684.15, reflecting a decrease of 0.73% from the previous day’s close. This index provides insights into the performance of oil and gas companies and their correlation with global energy prices.

Option Chain Analysis for NIFTY and BANKNIFTY

In the option chain for NIFTY with a 29 February 2024 expiry date, notable changes in open interest were observed. Top gainers in open interest calls included 22200CE, 22500CE, and 22300CE, while significant changes in open interest puts were recorded for 22000PE, 22200PE, and 22100PE, indicating prevailing sentiment and potential price movements.

For BANKNIFTY’s option chain with the same expiry date, substantial shifts in open interest were noted. Notable changes in open interest calls included 46500CE, 46600CE, and 46700CE, whereas significant movements in open interest puts were observed for 46600PE, 46500PE, and 46700PE, further illustrating market sentiment and potential areas of interest for traders.

In conclusion, the trading day of 27 February 2024 witnessed dynamic movements in the NSE Share Market, characterized by resilient performances from the Nifty50 and BankNifty indices amid fluctuations. Institutional activity remained robust, influencing market dynamics, while option chain data provided insights into prevailing sentiments and potential price trajectories for traders and investors alike.

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.

Today’s NSE Share Bazaar

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.

Nifty Spot on 23 February 2024

On 23 February 2024, the NSE Nifty commenced trading with a notable gain of 73 points, opening at 22,290.00, a significant uptick from the previous day’s close of 22,217.45. The index quickly surged to a high of 22,297.50 within the first minute of trading. However, market dynamics swiftly changed, leading to a decline, with the Nifty 50 reaching a low of 21,205 near 10:30 AM. Throughout the day, the Nifty spot witnessed fluctuations, ultimately settling at 22,212.70, registering a minor loss of 0.02%. Despite the day’s mixed performance, the Nifty achieved a new intraday life high, reflecting the underlying bullish sentiment.

Today’s NSE Share Bazaar

Bank Nifty’s Volatile Trajectory

In contrast to the Nifty’s performance, Bank Nifty opened on a positive note, gaining 141 points at 47,060.70 compared to the previous day’s close of 46,919.80. The index reached a high of 47,245.35 around 10:20 AM, coinciding with a downward trend in Nifty. However, the initial strength in Bank Nifty was short-lived, as the index plummeted to a low of 46,723.15. Despite efforts to recover, Bank Nifty closed at 46,811.75, marking a loss of 0.23% for the day.

FII and DII Cash Segment Data

On 23 February 2024, Foreign Institutional Investors (FII) exhibited bullish behavior by purchasing equities worth 1,276.09 crores in the cash segment. Similarly, Domestic Institutional Investors (DII) showed confidence in the market by acquiring equities worth 176.68 crores. However, despite institutional buying, the share bazaar remained relatively flat. The long-to-short ratio in Index futures of FII witnessed a slight decrease, standing at 0.78, following a prolonged period of ascent.

FII Derivative Statistics for 23 February 2024

You can download the image below containing the FII derivative statistics for 23 February 2024

NSE NIFTY

The NSE Nifty, a key benchmark index representing the performance of the top 50 stocks listed on the National Stock Exchange, opened at 22,290.00 on 23 February 2024. Throughout the trading session, it recorded a high of 22,297.50 and a low of 22,186.10, before closing slightly lower at 22,212.70 compared to the previous close of 22,217.45, indicating a marginal decline of 0.02%. Notable gainers in the Nifty index included BAJAJFINSV, SBILIFE, and HDFCLIFE, while top losers comprised BPCL, HCLTECH, and MARUTI.

Also Read:

• 26 February 2024: Nifty 50 Performance
• On 22 February 2024 New Highs for NSE Share Market
• 21 February 2024: Analyzing the Performance of NSE Share Bazaar

BANKNIFTY

The Bank Nifty index, which tracks the performance of the banking sector stocks, opened at 47,060.70 on 23 February 2024. It experienced fluctuations throughout the day, reaching a high of 47,245.35 and a low of 46,723.15, ultimately closing at 46,811.75. This represented a decrease of 0.23% from the previous close of 46,919.80. Notable gainers in the Bank Nifty index included BANDHANBNK, IDFCFIRSTB, and AUBANK, while top losers comprised BANKBARODA, PNB, and FEDERALBNK.

Sectoral Indices on 23 February 2024

• NIFTY NEXT 50: The Nifty Next 50 index, comprising stocks ranked 51-100 by market capitalization, opened at 59,172.95 on 23 February 2024. It recorded a high of 59,331.45 and a low of 58,811.95 during the trading session, ultimately closing at 59,153.75. This represented a gain of 0.26% from the previous close of 58,999.00.
• NIFTY MIDCAP 50: The Nifty Midcap 50 index, which reflects the performance of mid-sized companies, opened at 14,031.60 on 23 February 2024. It recorded a high of 14,141.00 and a low of 14,015.25, ultimately closing at 14,062.20. This represented a gain of 0.72% from the previous close of 13,961.95.
• NIFTY AUTO: The Nifty Auto index, representing the automobile sector, opened at 20,692.80 on 23 February 2024. Throughout the trading session, it saw a high of 20,711.00 and a low of 20,540.75, ultimately closing at 20,621.35. This reflected a modest gain of 0.18% from the previous close of 20,584.85. The sector witnessed mixed performances among its constituents, influenced by factors such as consumer demand, production trends, and regulatory developments.
• NIFTY FMCG: The Nifty FMCG index, comprising fast-moving consumer goods companies, opened at 54,528.50 on 23 February 2024. It experienced fluctuations during the day, reaching a high of 54,561.55 and a low of 54,268.75, before closing at 54,337.75. Despite the volatility, the index saw a marginal decrease of 0.15% from the previous close of 54,419.20. FMCG stocks are often considered defensive and tend to exhibit stable performance even during market fluctuations.
• NIFTY IT: The Nifty IT index, which tracks the performance of information technology companies, opened at 38,487.50 on 23 February 2024. Throughout the trading session, it recorded a high of 38,490.45 and a low of 37,980.10, ultimately closing at 38,045.65. This represented a decline of 0.22% from the previous close of 38,130.15. The IT sector is influenced by factors such as global tech trends, currency movements, and demand for software services.
• NIFTY METAL: The Nifty Metal index, representing the metal sector, opened at 8,103.90 on 23 February 2024. It saw fluctuations throughout the day, reaching a high of 8,112.80 and a low of 8,032.50, before closing at 8,047.75. This reflected a decline of 0.27% from the previous close of 8,069.40. The metal sector is sensitive to factors such as commodity prices, global demand, and trade policies.
• NIFTY PHARMA: The Nifty Pharma index, comprising pharmaceutical companies, opened at 18,984.95 on 23 February 2024. It recorded a high of 19,134.80 and a low of 18,957.75 during the trading session, ultimately closing at 19,048.40. This represented a gain of 0.42% from the previous close of 18,969.45. The pharma sector is influenced by factors such as drug approvals, research and development pipelines, and regulatory changes.
• NIFTY PSU BANK: The Nifty PSU Bank index, representing public sector banks, opened at 7,183.00 on 23 February 2024. Throughout the trading session, it witnessed a high of 7,245.95 and a low of 7,059.10, ultimately closing at 7,076.05. This reflected a decline of 1.15% from the previous close of 7,158.60. The performance of PSU banks is influenced by factors such as economic conditions, government policies, and asset quality.
• NIFTY OIL & GAS: The Nifty Oil & Gas index, comprising companies in the oil and gas sector, opened at 11,828.95 on 23 February 2024. It experienced fluctuations during the day, reaching a high of 11,847.45 and a low of 11,707.50, before closing at 11,756.30. This reflected a decline of 0.43% from the previous close of 11,806.75. The sector is influenced by factors such as crude oil prices, exploration activities, and government regulations.

Option Chain Analysis

In the option chain for Nifty with a 29 February 2024 expiry, significant changes were observed in open interest calls and puts. The top three changes in open interest calls included 22200CE, 22300CE, and 22400CE, while notable changes in open interest puts comprised 22200PE, 22300PE, and 22400PE. Similarly, in the option chain for Bank Nifty with the same expiry date, prominent changes were noted in open interest calls (47000CE, 46900CE, and 46800CE) and puts (47000PE, 46900PE, and 46800PE).

In conclusion, the Nifty 50 index exhibited intriguing trends on 23 February 2024, characterized by initial gains, subsequent decline, and eventual stabilization. While Bank Nifty experienced volatility, the overall sentiment remained cautiously optimistic. Institutional activity, particularly FII buying, underscored confidence in the market, despite the day’s mixed performance across various sectors and indices.

On 22 February 2024, the Nifty 50 index began the day on a positive note, opening with a gain of 26 points at 22,081.55 compared to the previous day’s close of 22,055.05. However, the index experienced a brief downturn, reaching as low as 21,875.25 around 11 AM. Nevertheless, the bulls regained control, and a steady ascent commenced around 12:50 PM, propelling the Nifty spot to a peak of 22,252.50. Ultimately, the Nifty concluded the trading session at 22,217.45, recording a notable gain of 0.74%. This surge marked a new all-time high for the NSE Share Market, with the Nifty closing at its highest level ever.

Today’s NSE Share Bazaar

Mixed Performance for Bank Nifty

While Bank Nifty exhibited strength in the previous trading session, the trend reversed on 22 February 2024. Bank Nifty commenced trading at 46,934.55, registering a decline of 85 points compared to the previous day’s close of 47,019.70. Despite opening at a high of 47,024.05, the index encountered downward pressure throughout the day, reaching a low of 46,426.85. Despite a late-hour surge that supported the Nifty, Bank Nifty failed to close in the green, settling at 46,919.80, marking a decline of 0.21%.

FII/FPI Cash Activity and Market Dynamics On 22 February 2024

On 22 February 2024, Foreign Institutional Investors (FIIs) divested 1,410.05 crores in the cash segment, while Domestic Institutional Investors (DIIs) infused 1,823.68 crores into the equity market. The net selling by FIIs notwithstanding, the market rallied on account of robust DII buying and Nifty’s weekly expiry. The long-to-short ratio in Index futures of FIIs continued to rise, reaching 0.80, indicative of growing bullish sentiment among institutional investors.

FII Derivative Statistics for 22 February 2024

You can download the image below containing the FII derivative statistics for 22 February 2024

NSE Nifty Highlights

The NSE Nifty exhibited noteworthy movements on 22 February 2024. Opening at 22,081.55, the index soared to a high of 22,252.50 and dipped to a low of 21,875.25 before concluding the session at 22,217.45, reflecting a gain of 0.74%. Among the top gainers in the Nifty Index were COALINDIA, BAJAJ-AUTO, and EICHERMOT, while INDUSINDBK, HDFCBANK, and BPCL were among the top losers.

Bank Nifty Performance

In contrast to the previous day’s performance, Bank Nifty faced downward pressure on 22 February 2024. Opening at 46,934.55, the index reached a high of 47,024.05 but ultimately settled at 46,919.80, marking a decline of 0.21%. Noteworthy gainers in the Bank Nifty Index included BANDHANBNK, AXISBANK, and ICICIBANK, while INDUSINDBK, HDFCBANK, and KOTAKBANK were among the top losers.

Also Read: Nifty 50 Marks Intriguing Trends on 23 February 2024

Sectoral Indices Overview

Across various sectoral indices, notable movements were observed on 22 February 2024. The Nifty Next 50 closed at 58,999.00, recording a gain of 1.05%, while the Nifty Midcap 50 surged by 1.07%, closing at 13,961.95. The Nifty Auto, Nifty FMCG, and Nifty IT indices witnessed gains of 1.64%, 0.98%, and 1.94%, respectively. Conversely, the Nifty Metal index recorded a modest gain of 1.17%, while the Nifty Pharma and Nifty PSU Bank indices saw marginal increases of 0.28% and 0.21%, respectively. The Nifty Oil & Gas index closed at 11,806.75, marking a gain of 0.30%.

Option Chain Analysis

In the option chain for Nifty with a 29 February 2024 expiry, notable changes were observed in open interest calls and puts. Top three changes in open interest calls included 22200CE, 22300CE, and 22400CE, while significant changes in open interest puts included 22200PE, 22100PE, and 22000PE. Similarly, in the option chain for Bank Nifty with the same expiry date, prominent changes were noted in open interest calls (47000CE, 46900CE, and 46800CE) and puts (47000PE, 46900PE, and 46800PE).

In conclusion, the NSE Share Market witnessed robust activity on 22 February 2024, with the Nifty 50 achieving record highs and several sectoral indices registering significant gains. Despite fluctuations in Bank Nifty, overall market sentiment remained positive, supported by strong DII buying and favorable FII/FPI data.

Nifty Spot Today: 21 February 2024

On 21 February 2024, the Nifty 50 index, a key benchmark of the NSE Share Bazaar, started the day on a positive note, opening with a gain of 52 points at 22,248.85. The index hit an early high of 22,249.40, showcasing initial strength. However, the momentum shifted, and Nifty 50 dipped to a low of 22,161 near 10:45 AM. Despite a brief recovery around 1 PM, the Nifty spot witnessed a downward trend, reaching a low of 21,997.95. The day concluded with the index closing at 22,055.05, marking a decline of 0.64%. Although the Nifty made a new life high, it couldn’t sustain the upward momentum to close at a new life high for the NSE Share Bazaar.

Today’s NSE Share Bazaar

Nifty Bank Today: 21 February 2024

In contrast to Nifty 50, Nifty Bank exhibited resilience in today’s trade. The Bank Nifty index opened strong at 47,363.40, registering a gain of 269 points compared to the previous close. The opening price also marked the high for the day. Throughout the trading session, Bank Nifty demonstrated stability, with a low of 46,886.95 recorded near the closing of trade. Nifty Bank closed at 47,019.70, experiencing a marginal loss of 0.16%. Despite the decline, Bank Nifty showed better resilience compared to Nifty 50.

FII/FPI Cash Data: 21 February 2024

On 21 February 2024, Foreign Institutional Investors (FIIs) showed moderate activity in the cash segment, with net buying of 284.66 crores. Conversely, Domestic Institutional Investors (DIIs) engaged in selling activities, with a net value of -411.57 crores worth of equity. While the net figures remained moderate, the gross figures reflected typical trading behavior for institutional investors. The long-to-short ratio in Index futures of FII continued its upward trend, reaching 0.73, indicative of increasing bullish sentiment over the past few days.

FII Derivative Statistics for 21 February 2024

You can access the image below, which includes the FII derivative statistics for 21 February 2024.

NSE Nifty Index

The NSE Nifty index, representing the broader market sentiment, witnessed a mixed trading session. Opening at 22,248.85, it reached a high of 22,249.40 early in the day. However, the index experienced a downward trajectory, touching a low of 21,997.95. Ultimately, it closed at 22,055.05, marking a decrease of -0.64% compared to the previous close of 22,196.95. Top gainers in the Nifty Index included Tata Steel, State Bank of India (SBI), and IndusInd Bank, while top losers comprised Bharat Petroleum Corporation Limited (BPCL), NTPC, and Coal India Limited.

Also Read:

• 22 February 2024 New Highs for NSE Share Market
• Navigating the Share Market On 20 February 2024
• 19 February 2024: Nifty Fifty Today

Bank Nifty Index

The Bank Nifty index, which tracks the performance of banking stocks, showed relative strength in today’s session. Opening at 47,363.40, it maintained stability throughout the day, with a high and low of 47,363.40 and 46,886.95, respectively. Despite closing with a minor loss of -0.16% at 47,019.70, Bank Nifty outperformed the broader market. State Bank of India (SBIN), Bank of Baroda, and IndusInd Bank were among the top gainers, while AU Small Finance Bank, Bandhan Bank, and HDFC Bank witnessed losses.

Sectoral indices: 21 February 2024

1. NIFTY NEXT 50:
   • The Nifty Next 50 index represents the performance of the next 50 companies listed on the National Stock Exchange (NSE) after the Nifty 50.
   • On the trading day, it opened at 58,913.60, reached a high of 59,104.80, and dipped to a low of 58,204.25 before closing at 58,386.50.
   • Compared to the previous close of 58,706.40, the index experienced a decrease of 0.54%. This indicates a slight downturn in the performance of mid-cap companies represented by this index.
2. NIFTY MIDCAP 50:
   • The Nifty Midcap 50 index tracks the performance of the top 50 mid-sized companies listed on the NSE.
   • It opened at 14,008.40, hitting a high of 14,033.55 and a low of 13,777.40 during the trading session.
   • The index concluded the day at 13,813.55, showing a decline of 1.22% from the previous close of 13,984.00. This suggests a notable decrease in the performance of mid-cap stocks.
3. NIFTY AUTO:
   • This index focuses on the automobile sector, comprising companies involved in the manufacturing and sale of automobiles and related products.
   • The opening, high, low, and closing prices for the trading day were 20,372.00, 20,494.10, 20,192.45, and 20,252.55, respectively.
   • With a change of -0.50% from the previous close of 20,354.25, the Nifty Auto index experienced a moderate decline in value.
4. NIFTY FMCG:
   • The Nifty FMCG index tracks the performance of the fast-moving consumer goods sector, including companies engaged in the production and distribution of consumer goods.
   • It opened at 53,975.55, reached a high of 54,226.85, and a low of 53,651.25 before closing at 53,892.35.
   • With a minimal change of 0.02% from the previous close of 53,882.50, the index remained relatively stable.
5. NIFTY IT:
   • The Nifty IT index comprises IT companies listed on the NSE, including software developers, IT services providers, and technology manufacturers.
   • On 21 February 2024, it opened at 37,938.85, recorded a high of 38,001.45, and a low of 37,302.60, closing at 37,405.90.
   • The index experienced a decrease of 1.64% from the previous close of 38,029.70, indicating a notable decline in IT sector stocks.
6. NIFTY METAL:
   • This index represents the performance of metal companies, including those involved in mining, refining, and manufacturing metal products.
   • On 21 February 2024, it opened at 8,037.70, touched a high of 8,118.90, and a low of 7,937.25, ultimately closing at 7,976.45.
   • With a slight increase of 0.26% from the previous close of 7,955.80, the Nifty Metal index showed modest growth.
7. NIFTY PHARMA:
   • The Nifty Pharma index tracks pharmaceutical companies listed on the NSE, including drug manufacturers, biotechnology firms, and healthcare companies.
   • It opened at 19,015.75, recorded a high of 19,061.35, and a low of 18,830.10, closing at 18,916.45.
   • The index experienced a decrease of 0.40% from the previous close of 18,993.00, indicating a slight downturn in pharmaceutical stocks.
8. NIFTY PSU BANK:
   • This index focuses on public sector banks listed on the NSE, including major government-owned banking institutions.
   • On 21 February 2024, It opened at 7,135.10, reached a high of 7,253.05, a low of 7,129.05, and closed at 7,143.75.
   • With an increase of 0.60% from the previous close of 7,101.20, the Nifty PSU Bank index showed modest growth.
9. NIFTY OIL & GAS:
   • The Nifty Oil & Gas index represents companies in the oil and gas sector, including exploration, production, and refining entities.
   • It opened at 11,977.95, touched a high of 12,009.80, a low of 11,708.35, and closed at 11,771.95.
   • With a decrease of 1.44% from the previous close of 11,943.35, the index experienced a notable decline in oil and gas sector stocks.

Option Chain Data

In the option chain data for the Nifty with a 22 February 2024 expiry, notable changes were observed in both open interest calls and puts. Calls at the 22200 strike saw increased open interest, while puts at the 22100 strike witnessed significant unwinding. For the Bank Nifty with a 29 February 2024 expiry, call options at the 47000 strike recorded increased open interest, while put options at the 47000 strike saw notable additions.

In conclusion, the NSE Share Bazaar on 21 February 2024 witnessed a mixed trading session, with the Nifty 50 index experiencing a decline while the Nifty Bank exhibited resilience. Foreign institutional activity remained moderate, and option chain data reflected dynamic market sentiment. Investors continue to monitor these indicators closely for insights into market trends and potential trading opportunities.

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.

Today’s NSE Share Bazaar

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.

On 19 February 2024, the Nifty Fifty index commenced trading on a positive note, opening higher at 22,103.45 compared to the previous day‘s close of 22,040.70. Despite an initial dip to a low of 22,021.05, the Nifty 50 swiftly rebounded and reached a high of 22,186.65. Notably, the day witnessed lower volatility compared to the preceding sessions. Eventually, Nifty closed at 22,122.25, marking a gain of 0.37%. The day’s performance showcased a steady trajectory for Nifty, reflecting a resilient market sentiment.

Today’s NSE Share Bazaar

Nifty Bank Today

Simultaneously, Bank Nifty today exhibited positive momentum, starting its journey with a gain of 170 points at 46,554.90 from the previous close of 46,384.85. The index registered a low of 46,317.70 in early trade but recovered swiftly, reaching a high of 46,717.40 during the day. However, Bank Nifty closed slightly below its peak at 46,535.50, recording a gain of 0.32%. While Bank Nifty today showcased upward movement, its gains were relatively lower compared to Nifty, indicating nuanced dynamics within the banking sector.

FII DII Cash Data Analysis for 19 February 2024

Analyzing FII/FPI and DII trading activity on 19 February 2024 reveals notable trends. While DIIs exhibited a buying spree with equity purchases worth 452.70 crores, FIIs engaged in selling, with net sales amounting to 754.59 crores in the cash segment. This contrast in institutional behavior reflects divergent market perspectives. Notably, the long-to-short ratio in FII index futures increased steadily, reaching 0.65, underscoring FIIs’ cautious stance amidst market fluctuations.

FII Derivative Statistics for 19 February 2024

You can download the image provided below, which contains the FII derivative statistics for 19 February 2024.

Nifty Index Insights

Examining the NSE Nifty’s performance on 19 February 2024, the index demonstrated resilience amidst market volatility. Opening at 22,103.45, Nifty witnessed intraday fluctuations, with a high of 22,186.65 and a low of 22,021.05. However, it managed to sustain upward momentum, eventually closing at 22,122.25, marking a gain of 0.37%. Noteworthy gainers in the Nifty index included GRASIM, BAJAJFINSV, and BAJAJ-AUTO, while COALINDIA, LT, and SBILIFE emerged as top losers.

Also Read:

• 15 February 2024: Analyzing Today’s Share Bazaar and FII DII Data
• Exploring Share Bazaar Update on 14 February 2024

BankNifty Performance Overview

BankNifty, reflecting the banking sector’s performance, displayed a similar trend to Nifty on 19 February 2024. Opening at 46,554.90, the index experienced fluctuations throughout the day, with a high of 46,717.40 and a low of 46,317.70. Despite facing early challenges, BankNifty closed positively at 46,535.50, registering a gain of 0.32%. Notable gainers in the BankNifty index included AUBANK, ICICIBANK, and BANDHANBNK, while BANKBARODA, PNB, and FEDERALBNK emerged as top losers.

Sectoral Indices Performance Analysis

In addition to the broader indices like Nifty and BankNifty, sectoral indices offer valuable insights into the performance of specific segments within the market. Let’s delve into the performance of key sectoral indices on 19 February 2024:

• NIFTY NEXT 50: The NIFTY NEXT 50 index tracks the performance of the next 50 companies after the Nifty 50 on the NSE. On 19 February 2024, it opened at 58,838.30 and reached a high of 58,897.75. Despite fluctuations, it closed at 58,650.30, reflecting a modest gain of 0.11%. This index’s performance provides insights into the broader market beyond the top 50 companies, offering a glimpse into mid-cap companies’ performance.
• NIFTY MIDCAP 50: The NIFTY MIDCAP 50 index represents the performance of the top 50 mid-cap companies on the NSE. Opening at 14,092.45, it experienced slight fluctuations throughout the day, with a high of 14,092.50 and a low of 14,009.95. Eventually, it closed at 14,022.25, indicating a marginal decline of 0.09%. The performance of this index sheds light on the growth potential and risk appetite associated with mid-cap stocks.
• NIFTY AUTO: The NIFTY AUTO index comprises companies in the automobile sector. Opening on 19 February 2024 at 20,514.20, it saw a high of 20,548.80 and a low of 20,380.90. It closed at 20,481.60, marking a gain of 0.28% from the previous close. This index’s performance is influenced by factors such as consumer sentiment, demand for vehicles, and regulatory changes impacting the automotive industry.
• NIFTY FMCG: The NIFTY FMCG index represents the fast-moving consumer goods sector. Opening at 53,645.55, it reached a high of 54,121.60 and a low of 53,576.00. It closed at 53,943.30, reflecting a notable gain of 0.79% from the previous close. This index’s performance is indicative of consumer spending patterns, brand strength, and market penetration of FMCG companies.
• NIFTY IT: The NIFTY IT index tracks the performance of IT companies listed on the NSE. Opening on 19 February 2024 at 38,526.95, it reached a high of 38,559.85 and a low of 38,042.65. It closed at 38,363.15, indicating a slight decrease of 0.30% from the previous close. This index’s performance is influenced by global technological trends, currency fluctuations, and demand for IT services.
• NIFTY METAL: The NIFTY METAL index comprises companies in the metal sector. Opening at 8,018.35, it reached a high of 8,035.50 and a low of 7,965.00. It closed at 7,981.25, marking a marginal gain of 0.06% from the previous close. This index’s performance is closely linked to factors such as commodity prices, global demand, and government policies affecting the metal industry.
• NIFTY PHARMA: The NIFTY PHARMA index represents pharmaceutical companies listed on the NSE. Opening at 18,938.70, it reached a high of 19,079.30 and a low of 18,897.20. It closed at 19,037.70, reflecting a gain of 0.88% from the previous close. Factors such as regulatory approvals, research and development pipelines, and global healthcare trends influence this index’s performance.
• NIFTY PSU BANK: The NIFTY PSU BANK index tracks the performance of public sector banks in India. Opening at 7,165.35, it reached a high of 7,185.15 and a low of 7,090.35. It closed at 7,101.40, marking a decrease of 0.47% from the previous close. This index’s performance is closely tied to factors such as government policies, economic conditions, and asset quality of public sector banks.
• NIFTY OIL & GAS: The NIFTY OIL & GAS index represents companies in the oil and gas sector. Opening at 11,893.60, it reached a high of 11,995.65 and a low of 11,849.25. It closed at 11,919.70, reflecting a gain of 0.55% from the previous close. This index’s performance is influenced by factors such as crude oil prices, global demand-supply dynamics, and regulatory changes affecting the energy sector.

Option Chain Data Analysis for 19 February 2024

Delving into option chain data for Nifty and BankNifty reveals significant insights into market sentiment and expectations. In the Nifty option chain for the 22 February 2024 expiry, notable changes in open interest (OI) were observed, particularly in the 22200CE and 22100PE strikes. Conversely, for BankNifty’s option chain with a 21 February 2024 expiry, substantial changes were recorded in the 46500PE and 46400PE strikes. These changes highlight evolving market dynamics and investor strategies ahead of the respective expiry dates.

Conclusion

The trading session on 19 February 2024 portrayed a mix of optimism and caution in the Indian stock market. While Nifty and BankNifty showcased positive gains, institutional trading patterns underscored nuanced market sentiments. Option chain data provided further insights into market expectations and investor strategies. As investors navigate through dynamic market conditions, staying informed about key indices and institutional activities remains paramount for making informed investment decisions.

On 16 February 2024, the Nifty 50 index displayed a commendable performance, opening higher at 22,020.30 in comparison to the previous day’s close of 21,910.75. The market witnessed an initial low of 21,968.95, followed by a resilient upward movement throughout the trading session. Despite fluctuations, the index managed to reach a high of 22,068.65, reflecting a positive sentiment among investors. The day concluded with the Nifty 50 closing at 22,040.70, marking a notable gain of 0.59%. The day’s performance showcased stability amidst underlying volatility in the market, offering a reassuring outlook for investors.

Today’s NSE Share Bazaar

Bank Nifty Today: Moderate Gains Reflecting Market Sentiment

Bank Nifty commenced its trading journey on 16 February 2024 with a promising gain, starting at 46,454.30, up from the previous close of 46,218.90. However, the index experienced a minor dip, touching a low of 46,264.40 at the onset of trading. Throughout the day, Bank Nifty displayed resilience, reaching a peak of 46,693.40. Despite exhibiting less pronounced gains compared to the Nifty 50, Bank Nifty closed at 46,384.85, reflecting a decent increase of 0.36%. The performance of Bank Nifty today mirrored the cautious yet positive sentiment prevalent in the banking sector.

FII DII Cash Data Analysis On 16 February 2024:

On 16 February 2024, Foreign Institutional Investors (FII) displayed a moderate buying trend in the cash segment, acquiring assets worth 253.28 crores. Conversely, Domestic Institutional Investors (DII) exhibited a stronger buying sentiment, with investments totaling 1,571 crores. This data indicates a shift from the previous day’s selling trend among FIIs, suggesting a potential resurgence in market confidence. Moreover, the long-to-short ratio in Index futures of FIIs continued its upward trajectory, standing at 0.62, reflecting increasing optimism among institutional traders.

FII Derivative Statistics for 16 February 2024

You can download the image below containing the FII derivative statistics for 16 February 2024.

NSE Nifty: Index Highlights and Sectoral Performance

The NSE Nifty displayed notable movements throughout the day, opening at 22,020.30 and reaching a high of 22,068.65. Among the top gainers within the Nifty Index were WIPRO, SBILIFE, and M&M, while POWERGRID, BRITANNIA, and SBIN were among the top losers. The performance of sectoral indices varied, with sectors like Auto and Pharma showing significant gains, while others like FMCG and Oil & Gas witnessed marginal declines.

Bank Nifty: Sectoral Trends and Top Performers

Bank Nifty showcased moderate gains, starting at 46,454.30 and peaking at 46,693.40. Key gainers within the Bank Nifty Index included FEDERALBNK, BANDHANBNK, and IDFCFIRSTB, while SBIN, AXISBANK, and KOTAKBANK were among the top losers. The sectoral performance of banks reflected a mixed sentiment, with certain banks driving the index higher while others experienced minor setbacks.

Also Read:

• Share Market On 20 February 2024: Nifty Bank
• 19 February 2024: Nifty Fifty Today
• Shines
• 15 February 2024: Analyzing Today’s Share Bazaar
• Exploring Share Bazaar Update on 14 February 2024

Sectoral Indices Analysis: Insights into Different Market Segments

• 1. Nifty Auto: The Nifty Auto index tracks the performance of companies in the automobile sector. On 16 February 2024, the index showcased notable gains, reflecting positive sentiment within the auto industry. With a significant increase in the index from the previous day, investors witnessed strong performance from companies operating in the automotive sector.
• 2. Nifty FMCG: The Nifty FMCG index monitors the performance of fast-moving consumer goods companies. Despite experiencing marginal declines, the FMCG sector remained relatively stable on 16 February 2024. While certain companies within this sector may have faced challenges, others managed to maintain resilience, contributing to the overall performance of the index.
• 3. Nifty IT: The Nifty IT index represents information technology companies listed on the stock exchange. On 16 February 2024, the IT sector witnessed a notable increase in the index, indicating positive investor sentiment towards technology stocks. This performance could be attributed to factors such as increased demand for technology services and products.
• 4. Nifty Metal: The Nifty Metal index tracks the performance of metal companies, including steel, aluminum, and mining companies. On 16 February 2024, the index displayed steady gains, reflecting a positive outlook for the metal sector. Factors such as rising demand for metals in infrastructure and construction projects may have contributed to the sector’s performance.
• 5. Nifty Pharma: The Nifty Pharma index monitors pharmaceutical companies listed on the stock exchange. On 16 February 2024, the Pharma sector exhibited a significant increase in the index, indicating robust performance within the pharmaceutical industry. Factors such as innovation in drug development and increasing healthcare expenditure may have fueled the sector’s growth.
• 6. Nifty PSU Bank: The Nifty PSU Bank index comprises public sector banks listed on the stock exchange. On 16 February 2024, the index witnessed mixed performance, with some banks recording gains while others experienced declines. Factors such as changes in government policies and economic conditions can significantly impact the performance of PSU banks.
• 7. Nifty Oil & Gas: The Nifty Oil & Gas index tracks companies in the oil and gas exploration, production, and distribution sectors. On 16 February 2024, the index displayed a slight decline, reflecting challenges within the oil and gas industry. Factors such as fluctuating oil prices and geopolitical tensions may have influenced the sector’s performance.

Option Chain Analysis: Insights for Traders

Examining the option chain data for both Nifty and Bank Nifty expiries revealed interesting trends. For the Nifty 22 February 2024 expiry, notable changes in Open Interest Calls were observed at 22200CE and 22100CE, whereas significant shifts in Open Interest Puts were noted at 22100PE and 22000PE. Similarly, in the Bank Nifty 21 February 2024 expiry, notable changes were observed in Open Interest Calls at 46400CE and 46500CE, with significant movements in Open Interest Puts at 46500PE and 46400PE. These insights provide valuable information for traders to make informed decisions regarding their options trading strategies.

In conclusion, the Nifty 50 exhibited a commendable performance, demonstrating resilience amidst market volatility, while Bank Nifty reflected moderate gains, indicating a cautious yet optimistic sentiment. The data regarding FII and DII trading activities, along with option chain analysis, offer valuable insights for investors and traders, aiding them in navigating the dynamic landscape of the stock market.

Nifty Fifty Today: Resilience Amidst Volatility

On 15 February 2024, the Nifty Fifty index demonstrated resilience, opening higher at 21,906.55 in contrast to the previous close of 21,840.05. Despite initial fluctuations, with the index touching a low of 21,794.80 in the initial trade, Nifty Fifty swiftly regained momentum. Witnessing high volatility, the market experienced significant fluctuations, with 50 to 70 point movements occurring within five minutes. However, Nifty Fifty managed to reach a high of 21,953.85 during the day. Eventually, the index closed at 21,910.75, showcasing a commendable gain of 0.32%. Notably, it was the Nifty’s weekly options expiry, adding to the market’s dynamism.

Today’s NSE Share Bazaar

NIFTYBANK Performance: Steady Growth Despite Fluctuations

Similarly, NIFTYBANK embarked on its journey on 15 February 2024 at 46,027.10, slightly higher than the previous close of 45,908.30. Despite experiencing a low of 45,590.20 at the beginning of trade, the index demonstrated resilience and surged to a high of 46,297.70 during the day. Eventually, NIFTYBANK closed at 46,218.90, reflecting a gain of 0.68%. Despite market fluctuations, NIFTYBANK maintained steady growth throughout the trading session.

FII/FPI and DII Cash Trading Activity On 15 February 2024

On 15 February 2024, Foreign Institutional Investors (FII) continued their selling streak, with a significant sell-off of 3,064.15 crores in the cash segment. Conversely, Domestic Institutional Investors (DII) exhibited robust buying activity, accumulating equities worth 2,276.93 crores in the cash segment. This trend mirrored the previous day’s FII activity, indicating sustained selling pressure from foreign investors. The long-to-short ratio in FII’s Index futures marginally increased to 0.57, reflecting cautious optimism amidst market volatility.

FII Derivative Statistics for 15 February 2024

You can download the image below containing the FII derivative statistics for 15 February 2024.

NSE NIFTY Analysis: Gainers and Losers

Analyzing the NSE NIFTY Index, notable gainers included M&M, POWERGRID, and BPCL, while AXISBANK, APOLLOHOSP, and ITC emerged as the top losers. The index opened at 21,906.55 and closed at 21,910.75, marking a change of 0.32%. Despite market fluctuations, certain sectors showcased resilience, contributing to the overall positive sentiment of the index.

Also Read:

• Nifty 50 Today: Steady Performance On 16 February 2024
• Navigating the Indian Stock Market on 13 February 2024
• 12 February 2024: NSE Stock Market Overview

BANKNIFTY Insights: Gaining Momentum

On 15 February 2024, in the BANKNIFTY Index, FEDERALBNK, PNB, and BANKBARODA emerged as the top gainers, while AXISBANK, AUBANK, and BANDHANBNK faced losses. The index opened at 46,027.10 and closed at 46,218.90, reflecting a gain of 0.68%. Despite challenges, the banking sector demonstrated resilience, contributing to the index’s overall positive performance.

Sectoral Indices Performance: Varied Trends

Across sectoral indices, varied trends were observed. NIFTY NEXT 50 opened at 58,073.50 and closed at 58,185.90, marking a change of 0.89%. NIFTY MIDCAP 50 showcased positive momentum, with an opening at 13,871.85 and closing at 13,914.40, reflecting a change of 1.00%. Other sectoral indices, including NIFTY AUTO, NIFTY IT, and NIFTY OIL & GAS, demonstrated mixed performances, showcasing the dynamic nature of the market.

Option Chain Insights: Market Expectations

Analyzing the option chain for Nifty with a 22 Feb 2024 expiry, significant changes were observed in Open Interest Calls and Puts. Notable shifts were witnessed in Calls at 21900CE, 22000CE, and 22100CE, while Puts at 21900PE, 22000PE, and 21800PE saw substantial increases in Open Interest. Similarly, for BANKNIFTY with a 21 Feb 2024 expiry, notable changes were observed in Open Interest Calls and Puts, indicating market expectations and potential trends.

In conclusion, the share bazaar update on 15 February 2024 depicted a day of resilience amidst market volatility. Insights from FII/FPI data, along with sectoral performance and option chain analysis, provide valuable perspectives for investors, enabling them to make informed decisions in navigating the dynamic landscape of the stock market.