Nifty 50 India: A Day of Recovery
On 14 February 2024, the Nifty 50 index opened on a lower note at 21,578.15, facing the repercussions of a downturn in the US markets. However, displaying resilience, the index swiftly rebounded, reaching a low of 21,530.20 in initial trade before embarking on an upward trajectory. Throughout the trading session, the market witnessed steady growth, with Nifty 50 surging to a high of 21,870.85. Eventually, the index closed at 21,840.05, marking a commendable gain of 0.45%.
NIFTYBANK: Weekly Options Expiry Boosts Recovery
Similarly, NIFTYBANK commenced its journey on 14 February 2024 at 45,014.65, slightly lower than the previous close of 45,502.40. Experiencing a low of 44,860.75 at the beginning of trade, the index showcased resilience, reaching a high of 46,170.45 during the day. Notably, it was BankNifty’s weekly options expiry, where short coverings played a pivotal role in driving the index’s recovery. Consequently, BankNifty closed at 45,908.30, with a significant gain of 0.89%.
FII/FPI and DII Cash Segment Data on 14 February 2024
On 14 February 2024, Foreign Institutional Investors (FII) recorded significant selling activity, amounting to -3,929.60 Crores in the cash segment. Conversely, Domestic Institutional Investors (DII) exhibited robust buying, accumulating equities worth 2,897.98 Crores in the cash segment. This notable FII sell figure marked a departure from recent trends, impacting market sentiment. The long-to-short ratio in FII’s Index futures marginally increased to 0.56, indicating a cautious yet slightly optimistic stance compared to the previous day.
FII Derivative Statistics for 14 February 2024
You can save the image below for the FII derivative statistics for 14 February 2024.
Sectoral Indices Performance On 14 February 2024
- NIFTY NEXT 50: The index opened at 56,477.15 and displayed resilience throughout the day, closing at 57,672.40, reflecting a substantial change of 1.37%.
- NIFTY MIDCAP 50: Representing mid-cap companies, the index showcased positive momentum, opening at 13,510.75 and closing at 13,776.35, marking a change of 1.01%.
- NIFTY AUTO: Reflecting the automotive sector, the index opened at 19,300.50 and closed at 19,716.00, showcasing a significant gain of 1.46%.
- NIFTY FMCG: Representing fast-moving consumer goods, the index displayed resilience, opening at 53,224.35 and closing at 53,839.05, reflecting a change of 0.76%.
- NIFTY IT: The IT sector index faced challenges, opening at 37,724.75 and closing at 37,775.40, marking a change of -1.12%.
- NIFTY METAL: Reflecting metal companies, the index opened at 7,694.60 and closed at 7,874.80, showcasing a notable gain of 1.77%.
- NIFTY PHARMA: The pharmaceutical index opened at 18,714.45 and closed at 18,584.35, reflecting a change of -0.90%.
- NIFTY PSU BANK: Representing public sector banks, the index opened at 6,620.05 and closed at 6,934.15, marking a significant change of 3.24%.
- NIFTY OIL & GAS: Reflecting oil and gas companies, the index opened at 11,197.25 and closed at 11,639.85, showcasing a notable gain of 3.10%.
Also Read:
- 15 February 2024: Today’s Share Bazaar
- Navigating the Indian Stock Market on 13 February 2024
- 12 February 2024: NSE Stock Market Overview
Option Chain Insights
Analyzing the option chain for Nifty with a 15 Feb 2024 expiry, significant changes were observed in Open Interest Calls and Puts. Notable shifts were witnessed in Calls at 21800CE, 21850CE, and 21700CE, while Puts at 21900PE, 21800PE, and 21700PE saw substantial increases in Open Interest.
For BankNifty with a 21 Feb 2024 expiry, significant changes were noted in Open Interest Calls and Puts. Notable shifts were observed in Calls at 46000CE, 45800CE, and 45500CE, whereas Puts at 45000PE, 45700PE, and 46200PE displayed substantial increases in Open Interest.
In conclusion, the share bazaar update on 14 February 2024 portrayed a day of recovery, with indices showcasing resilience amidst global market fluctuations. Insights from FII/FPI data and the option chain provided valuable perspectives for investors, enabling them to navigate the dynamic landscape of the stock market effectively.