NSE Share Bazaar Update on 24 January 2024: Nifty Soars Amidst Volatility, BankNifty Flat on AXISBANK Results

Stay informed on the latest market trends! Explore the NSE Share Bazaar movements on 24 January 2024 for valuable insights into stock performance and FII/DII Data.

Today’s NSE Share Bazaar

Introduction:

The NSE Share Bazaar witnessed a roller-coaster ride on 24 January 2024, marked by intense volatility. Nifty opened lower at 21,185.25, down 53 points from the previous close, but swiftly rebounded to touch a high of 21,482.35. The market closed near the day’s peak at 21,453.95, registering a 1.01% gain. Conversely, BANKNIFTY faced weakness, influenced by the results of AXISBANK. Once again HDFCBANK was dragging down the index at opening. BankNifty closed at 45,082.40 just a flat close.

NSE NIFTY Performance On 24 January 2024

The NSE NIFTY index exhibited a mixed performance on 24 January 2024. Opening at 21,185.25, it reached a high of 21,482.35 and a low of 21,137.20. The closing price settled at 21,453.95, marking a positive shift from the previous close of 21,238.80. Notable gainers in the NSE NIFTY index included HINDALCO, DRREDDY, and INDUSINDBK, while ASIANPAINT, AXISBANK, and ICICIBANK saw declines.

BANKNIFTY’s Struggle:

In contrast to Nifty’s resilience, BANKNIFTY faced challenges on the trading day. Opening at 44,489.40 and closing at 45,082.40, the index was down 526 points at the open, reflecting a more fragile market sentiment. The weak opening was attributed to AXISBANK and HDFCBANK, both contributing to BANKNIFTY’s underperformance. Despite the initial setback, the index recovered, reaching a high of 45,485.50 during the day.

Top Gainers and Losers:

Within the NSE NIFTY index, notable gainers included HINDALCO, DRREDDY, and INDUSINDBK, while ASIANPAINT, AXISBANK, and ICICIBANK faced losses. In the BANKNIFTY index, INDUSINDBK, PNB, and AUBANK emerged as gainers, with IDFCFIRSTB, AXISBANK, and ICICIBANK witnessing declines.

Also Read:

Index-wise Performance:

  1. NIFTY NEXT 50: Opening at 53,419.05, the index reached a high of 54,272.05 and closed at 54,208.30, reflecting a change of 2.62% from the previous close of 53,294.70.
  2. NIFTY AUTO: The index opened at 18,384.60, touched a high of 18,632.15, and closed at 18,593.70, registering a 1.27% change from the previous close of 18,361.00.
  3. NIFTY MIDCAP 50: Opening at 13,102.50, the index surged to a high of 13,368.65 and closed at 13,356.20, indicating a substantial change of 2.35% from the previous close of 13,049.05.
  4. NIFTY FMCG: The FMCG index opened at 55,130.30, hit a high of 55,918.60, and closed at 55,858.70, reflecting a change of 1.61% from the previous close of 54,973.90.
  5. NIFTY IT: Opening at 36,761.60, the IT index reached a high of 37,174.20 and closed at 37,090.15, marking a 1.56% change from the previous close of 36,521.35.
  6. NIFTY METAL: The METAL index opened at 7,523.05, touched a high of 7,717.45, and closed at 7,708.65, indicating a substantial change of 2.96% from the previous close of 7,486.85.
  7. NIFTY PHARMA: Opening at 17,557.05, the PHARMA index reached a high of 17,796.00 and closed at 17,763.70, reflecting a change of 1.39% from the previous close of 17,520.30.
  8. NIFTY PSU BANK: The PSU BANK index opened at 5,832.10, reached a high of 5,945.10, and closed at 5,922.25, marking a 1.99% change from the previous close of 5,806.85.

FII/FPI and DII Cash Data:

FII/FPI activity on the NSE, BSE, and MSEI in the Capital Market segment showed a net value of -6,934.93 Crores, with a buy value of 27,230.93 Crores and a sell value of 34,165.86 Crores. On the other hand, DII absorbed selling from FII, with a net value of 6,012.67 Crores, reflecting a buy value of 15,493.23 Crores and a sell value of 9,480.56 Crores.

FII DERIVATIVES STATS FOR 24 January 2024

FII DERIVATIVES STATS FOR 24 January 2024

Option Chain Data:

In the NIFTY option chain, notable changes in Open Interest Calls included decreases in 21200CE by -39,463, 21300CE by -38,902, and 21500CE by -14,859. In the Puts, increases were observed in 21400PE by 1,04,617, 21300PE by 74,661, and 21500PE by 20,148.

For BANKNIFTY, the top three changes in Open Interest Calls were seen in 45000CE (-28,332), 45100CE (26,882), and 45200CE (27,462). In the Puts, changes were observed in 45200PE (23,889), 45500PE (-28,749), and 45100PE (26,261).

Conclusion:

The NSE Share Bazaar on 24 January 2024 showcased a dynamic market environment, with Nifty demonstrating resilience amidst volatility. BANKNIFTY faced challenges, influenced by the performance of AXISBANK. The top gainers and losers in various indices provided a comprehensive overview of the day’s trading. Additionally, FII/FPI and DII data highlighted the interplay between domestic and foreign institutional investors. Option chain data for NIFTY and BANKNIFTY provided insights into market sentiment and future expectations. Investors and traders must remain vigilant and adaptable in response to the ever-changing dynamics of the stock market.

Leave a Reply