NSE Share Bazaar Flourishes on 6 February 2024: FII/DII Data Analysis

On 6 February 2024, the NSE Share Bazaar witnessed dynamic movements, marked by significant indices’ performances and intriguing FII/DII trading activities. Let’s delve into the details of how Nifty, BankNifty, and other key indices fared, along with a closer look at the Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) trading behavior. Additionally, we’ll explore the option chain data, offering insights into the market sentiment and potential trends.

Today’s NSE Share Bazaar

NIFTY Index Performance:

The NSE NIFTY index commenced the day with a promising gap up at 21,825.20, showcasing bullish momentum. Throughout the trading session, it demonstrated resilience, surging to an intraday high of 21,951.40 before settling at 21,929.40, indicating a commendable gain of 0.72%. Notably, key players like TCS and INFY played pivotal roles in driving these gains, particularly buoying the NIFTY IT Index to the top among sectoral indices.

BANKNIFTY Index Analysis:

In contrast, the NIFTY Bank index began with marginal gains at 45,891.20 but encountered hurdles as the day progressed. Despite reaching an initial high of 45,932.15, it struggled, ultimately closing at 45,690.80, reflecting a decline of 0.29%. This performance underscores the mixed sentiments prevailing within the banking sector on this trading day.

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FII and DII Trading Activity: On 6 February 2024

FII and DII trading activities provided additional insights into market dynamics. On 6 February 2024, FIIs purchased equities worth 92.52 crores in the cash segment, indicating their continued interest in the Indian market. Simultaneously, DIIs exhibited robust participation, buying equities worth 1,096.26 crores, underscoring their confidence in the domestic market’s potential.

FII Derivative Statistics for 6 February 2024:

You can download the image below for the FII derivative stats for 6 February 2024 for your reference:

FII Derivative Statistics for 6 February 2024

Option Chain Analysis:

Analyzing the option chain data, particularly for BankNifty’s 7 February 2024 expiry, reveals intriguing insights. Noteworthy changes in open interest calls and puts suggest potential market movements. Calls at 45700CE, 45800CE, and 46000CE witnessed significant increases, indicating bullish sentiments. Conversely, certain puts, such as 45900PE and 46000PE, experienced declines, possibly indicating a shift in market sentiment toward the bullish side.

For NIFTY‘s 8 February 2024 expiry, notable changes in open interest calls and puts provide further insights. While calls like 22000CE, 21800CE, and 21900CE witnessed reductions, suggesting a bearish sentiment, puts such as 22000PE, 21900PE, and 21800PE saw notable increases, hinting at potential support levels.

Conclusion:

In conclusion, the NSE Share Bazaar on 6 February 2024 showcased a blend of optimism and caution, with NIFTY exhibiting strength while BankNifty faced challenges. FII and DII activities indicated ongoing interest and confidence in the market, while option chain data hinted at potential market movements and sentiment shifts. As investors navigate through these dynamics, staying informed and adaptive is paramount to capitalizing on emerging opportunities within the Indian share market.

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