Share Bazaar Plunges on 17 January 2024: NIFTY and BANKNIFTY Witness Sharp Declines

Explore the dramatic twists in the Share Bazaar on 17 January 2024 with comprehensive insights into NIFTY and BANKNIFTY performances. Stay informed for strategic investment decisions.

Today’s NSE Share Bazaar

17 January 2024

In a tumultuous session on 17 January 2024, the Indian Share Bazaar experienced a significant downturn, marked by a crash in both NIFTY and BANKNIFTY. The day unfolded with a gap-down opening for NIFTY at 21,647.25, reflecting a 2.09% drop from the previous close of 22,032.30. The market sentiment was heavily impacted by the results of Index heavyweight HDFCBANK. Simultaneously, BANKNIFTY opened at 46,573.95, a notable decline from the previous close of 48,125.10, closing with a substantial loss of 4.28%. This plunge was further intensified by the pressure from the BANKNIFTY weekly options expiry.

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NSE NIFTY Index: 17 January 2024

The NSE NIFTY Index exhibited a volatile trading day:

  • Open Price: 21,647.25
  • High Price: 21,851.50
  • Low Price: 21,550.45
  • Closing Price: 21,571.95
  • Previous Close: 22,032.30

Top gainers in the NSE NIFTY Index: APOLLOHOSP, HCLTECH, TECHM.

Top losers in the NSE NIFTY Index: HDFCBANK, TATASTEEL, KOTAKBANK.

BANKNIFTY Index: 17 January 2024

The BANKNIFTY Index faced substantial losses:

  • Open Price: 46,573.95
  • High Price: 47,212.75
  • Low Price: 45,979.60
  • Closing Price: 46,064.45
  • Previous Close: 48,125.10

Top gainers in the BANKNIFTY Index: All stocks in the red.

Top losers in BANKNIFTY Index: HDFCBANK, IKOTAKBANK, AXISBANK.

Share Bazaar Plunges on 17 January 2024

Other Major Indices: 17 January 2024

  • NIFTY NEXT 50:
    • Open Price: 54,478.65
    • High Price: 54,813.10
    • Low Price: 54,116.55
    • Closing Price: 54,206.25
    • Previous Close: 54,816.90
  • NIFTY AUTO:
    • Open Price: 18,537.00
    • High Price: 18,620.00
    • Low Price: 18,413.65
    • Closing Price: 18,447.25
    • Previous Close: 18,712.70
  • NIFTY MIDCAP 50:
    • Open Price: 13,300.15
    • High Price: 13,411.15
    • Low Price: 13,222.15
    • Closing Price: 13,236.95
    • Previous Close: 13,410.85
  • NIFTY FMCG:
    • Open Price: 56,477.65
    • High Price: 56,839.60
    • Low Price: 56,191.70
    • Closing Price: 56,259.50
    • Previous Close: 56,755.85
  • NIFTY IT:
    • Open Price: 36,299.60
    • High Price: 37,107.20
    • Low Price: 36,289.30
    • Closing Price: 36,960.40
    • Previous Close: 36,727.10
  • NIFTY METAL:
    • Open Price: 7,852.90
    • High Price: 7,852.90
    • Low Price: 7,683.70
    • Closing Price: 7,693.55
    • Previous Close: 7,941.85
  • NIFTY PHARMA:
    • Open Price: 17,285.35
    • High Price: 17,319.70
    • Low Price: 17,130.45
    • Closing Price: 17,154.00
    • Previous Close: 17,320.15
  • NIFTY PSU BANK:
    • Open Price: 5,839.90
    • High Price: 5,934.60
    • Low Price: 5,806.25
    • Closing Price: 5,830.00
    • Previous Close: 5,933.40

Option Chain Data: 17 January 2024

NIFTY:

  • Top three changes in Open Interest Calls:
    • 21800CE: 2,64,530
    • 21700CE: 1,82,068
    • 21600CE: 1,22,649
  • Top three changes in Open Interest Puts:
    • 21900PE: -92,738
    • 21700PE: -67,441
    • 21800PE: -43,503

BANKNIFTY: (Next Expiry)

  • Top three changes in Open Interest Calls:
    • 47000CE: 1,23,142
    • 46500CE: 70,355
    • 46000CE: 32,650
  • Top three changes in Open Interest Puts:
    • 48000PE: -28,429
    • 46200PE: 34,080
    • 46000PE: 35,907

The intricate details of the share bazaar on 17 January 2024 indicate a day marked by heightened volatility and significant losses across various indices, providing investors with valuable insights for their future strategies.

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