Shockwaves in NSE Share Bazaar on 23 January 2024: A Detailed Analysis of Index Movements and FII/FPI Data

Dive into the market chaos on 23 January 2024 at NSE Share Bazaar. Explore the index movements, share prices, and FII/FPI data in this comprehensive analysis.

Today’s NSE Share Bazaar

Introduction:

On 23 January 2024, the National Stock Exchange (NSE) experienced a tumultuous day, sending shockwaves through the Share Bazaar. The Nifty index opened with a significant gap of 144 points at 21,716.70, only to witness a sudden downturn, leading to panic selling. Simultaneously, the Bank Nifty index also faced a similar fate, adding to the overall market distress. Let’s delve into the key indices and FII/FPI data to understand the dynamics that unfolded on this fateful day.

NSE NIFTY Index On 23 January 2024

The Nifty index, representing the top 50 companies on the NSE, opened at 21,716.70 on 23 January 2024. Despite reaching a high of 21,750.25, the market sentiment took a sharp turn, resulting in a low of 21,192.60. The closing price stood at 21,238.80, indicating a loss of -1.54%. Among the top gainers were CIPLA, SUNPHARMA, and BHARTIARTL, while SBILIFE, COALINDIA, and INDUSINDBK faced the brunt as the top losers.

Shockwaves in NSE Share Bazaar on 23 January 2024

BANKNIFTY Index On 23 January 2024

Opening at 46,495.45, the Bank Nifty index surged to a high of 46,580.30 but succumbed to market pressure, hitting a low of 44,886.10. The closing price settled at 45,015.05, marking a loss of -2.26%. ICICIBANK emerged as the top gainer, while PNB, INDUSINDBK, and IDFCFIRSTB were the major losers.

Other Key Indices On 23 January 2024

  • NIFTY NEXT 50: The index opened at 55,218.25, with a high of 55,227.70 and a low of 53,009.75. The closing price was 53,294.70, experiencing a % change of -2.62.
  • NIFTY AUTO: Opening at 18,649.60, the index reached a high of 18,763.00 but closed at 18,361.00 with a % change of -1.56.
  • NIFTY MIDCAP 50: Starting at 13,577.50, the index faced a high and low of the same value (13,577.50) and closed at 13,049.05, with a % change of -3.15.
  • NIFTY FMCG: The index opened at 56,212.70, touched a high of 56,284.40, and closed at 54,973.90, experiencing a % change of -1.79.
  • NIFTY IT: Opening at 36,958.30, the index reached a high of 37,383.45 but closed at 36,521.35, with a % change of -0.48.
  • NIFTY METAL: Starting at 7,780.55, the index faced a high of 7,792.05, a low of 7,470.15, and closed at 7,486.85, with a % change of -3.43.
  • NIFTY PHARMA: The index opened at 17,361.95, reached a high of 17,689.95, and closed at 17,520.30, experiencing a % change of 1.66.
  • NIFTY PSU BANK: Starting at 6,093.65, the index witnessed a high of 6,123.25, a low of 5,757.75, and closed at 5,806.85, with a % change of -4.10.

FII/FPI and DII Data On 23 January 2024

In the capital market segment, FII/FPI data for 23 January 2024 revealed a net sell value of -3,115.39 Crores, with DII contributing a net value of 214.40 Crores. The FII derivatives statistics showed significant activity across various indices and stocks.

Option Chain Data:

  • NIFTY: The top three changes in Open Interest Calls included 21300CE (93,096 contracts), 21200CE (77,497 contracts), and 21400CE (86,764 contracts). On the Put side, 21500PE (-74,001 contracts), 21600PE (-62,490 contracts), and 21200PE (39,646 contracts) witnessed notable changes.
  • BANKNIFTY: In the Open Interest Calls category, 45000CE (1,32,840 contracts), 45500CE (1,26,913 contracts), and 45200CE (58,033 contracts) stood out. On the Put side, 46000PE (-57,725 contracts), 45800PE (-30,151 contracts), and 45000PE (23,877 contracts) recorded significant changes.

Conclusion:

The events of 23 January 2024 left an indelible mark on the NSE Share Bazaar, with both Nifty and Bank Nifty experiencing a day of significant volatility. The FII/FPI and DII data reflected the intense trading activity, further influencing the market dynamics. Investors and traders alike were left to navigate through a challenging landscape, emphasizing the importance of staying informed and vigilant in the ever-changing world of stock markets.

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