On 13 February 2024, the Indian stock market witnessed a dynamic trading session, with indices showcasing notable movements. Let’s delve into the key highlights of the day, focusing on the performance of major indices, FII/DII data, and insights from the option chain.
Nifty Index Movement on 13 February 2024
The Nifty index commenced the day on a positive note, opening higher at 21,664.30 compared to the previous day’s close of 21,616.05. It experienced fluctuations throughout the trading session, touching a low of 21,543.35 initially. However, displaying resilience, the Nifty surged to a high of 21,766.80 by 11:15 AM. Despite intermittent dips, the index closed at 21,743.25, marking a gain of 0.59%.
BankNifty Performance
Similarly, the BankNifty index embarked on its journey at 45,056.80, surpassing the previous close of 44,882.25. Experiencing a low of 44,819.55 at the beginning of trade, BankNifty soared to a high of 45,750.40 during the day. Eventually, it closed at 45,502.40, showcasing a gain of 1.38%.
FII and DII Cash Segment Activity on 13 February 2024
Foreign Institutional Investors (FII) exhibited buying activity in the cash segment, accumulating equities worth 376.32 Crores. Concurrently, Domestic Institutional Investors (DII) also contributed to the positive sentiment by purchasing equities valued at 273.94 Crores. The long-to-short ratio in FII’s Index futures marginally increased to 0.54, indicating a bullish stance compared to the previous day.
FII Derivative Statistics for 13 February 2024
You can save the image below for the FII derivative statistics for 13 February 2024.
Sectoral Indices Analysis
- NIFTY NEXT 50: This index saw a positive movement, on 13 February 2024 opening at 56,425.10 and closing at 56,893.05, reflecting a change of 1.01%.
- NIFTY MIDCAP 50: The mid-cap index opened at 13,607.80, reaching a high of 13,658.75 and closing at 13,638.45, showcasing a change of 0.44%.
- Nifty Auto Index: The Nifty Auto index, representing the automotive sector, opened at 19,504.95 and witnessed moderate fluctuations throughout the trading session. Despite minor ups and downs, the index managed to close at 19,433.05, marking a marginal change of 0.07%.
- Nifty FMCG Index: Reflecting the performance of fast-moving consumer goods companies, the Nifty FMCG index opened at 53,345.40. Throughout the day, it showcased resilience, touching a high of 53,534.80 and eventually closing at 53,432.05, registering a modest change of 0.26%.
- Nifty IT Index: The Nifty IT index, representing the information technology sector, opened at 38,070.40 and experienced fluctuations in line with broader market movements. By the end of the trading session, it closed at 38,204.00, showcasing a change of 0.26%.
- Nifty Metal Index: Reflecting the performance of metal companies, the Nifty Metal index opened at 7,806.50. However, it witnessed downward pressure, touching a low of 7,547.20 and closing at 7,737.85, marking a notable change of -2.07%.
- Nifty Pharma Index: Representing pharmaceutical companies, the Nifty Pharma index opened at 18,705.15 and displayed resilience amid market volatility. It closed at 18,753.95, showcasing a change of 0.45% by the end of the trading session.
- Nifty PSU Bank Index: The Nifty PSU Bank index, representing public sector banks, opened at 6,648.25 and showcased positive momentum throughout the trading session. It closed at 6,716.55, marking a notable change of 1.20%.
- Nifty Oil & Gas Index: Reflecting the performance of oil and gas companies, the Nifty Oil & Gas index opened at 11,256.10 and exhibited resilience amidst market fluctuations. By the end of the trading session, it closed at 11,289.65, registering a change of 0.45%.
Sectoral indices on 13 February 2024 portrayed a mix of performances, with some sectors showcasing resilience while others facing challenges. These sectoral insights provide valuable perspectives for investors and analysts, enabling them to make informed decisions amidst dynamic market conditions.
Also Read:
- Share Bazaar Update on 14 February 2024
- 12 February 2024: NSE Stock Market Overview
- Bulls Regain Momentum on 9 February 2024
Option Chain Insights On 13 February 2024
Analyzing the option chain for Nifty with a 15 Feb 2024 expiry, notable changes in Open Interest Calls and Puts were observed. Calls at 21800CE, 21600CE, and 21700CE witnessed declines, while Puts at 21700PE, 21800PE, and 21600PE saw increases in Open Interest.
For BankNifty with a 14 Feb 2024 expiry, significant changes were noted in Open Interest Calls and Puts. Calls at 45500CE, 45300CE, and 45000CE experienced reductions, whereas Puts at 45000PE, 45700PE, and 45300PE displayed varying levels of Open Interest shifts.
In conclusion, the Indian stock market on 13 February 2024 depicted a mix of volatility and resilience, with indices recording gains amidst FII and DII participation. Additionally, insights from the option chain provided valuable perspectives for market participants, reflecting underlying sentiments and potential trends.