Share Market Update on 12 January 2024: NIFTY Hits New Highs Supported by INFY and TCS Results

Stay updated on the dynamic Share Market movements of 12 January 2024, with a focus on NIFTY and BANKNIFTY. Get insights into market highs and lows.

Today’s NSE Share Bazaar

12 January 2024

The Indian Share Market opened with a significant gap on the current trading day, propelled by the positive quarterly results of tech giants INFY (Infosys) and TCS (Tata Consultancy Services). This positive momentum was reflected in both NSE NIFTY and BANKNIFTY, leading to a successful day for investors.

Also Read: 15 January 2024: NSE Share Bazaar

NSE NIFTY

On 12 January 2024, NIFTY, the benchmark index, showcased impressive performance throughout the day. Opening at 21,773.55, it reached a high of 21,928.25 and experienced a low of 21,715.15. The closing price settled at a remarkable 21,894.55, indicating a robust gain of 1.14 percent from the previous close of 21,618.70 on 11 January 2024. The top gainers in the NIFTY index were INFY, ONGC, and TECHM, while CIPLA, APOLLOHOSP, and BAJAJFINSV faced losses.

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12 January 2024: NIFTY Hits New Highs

BANKNIFTY

BANKNIFTY, a key player in the market, also contributed to the positive trend. Opening at 47,572.70, it reached a high of 47,873.70 and a low of 47,408.50. The closing price stood at 47,709.80, displaying a gain of 0.57 percent from the previous close of 47,438.35. Notable gainers in the BANKNIFTY index included PNB, SBIN, and BANKBARODA, while BANDHANBNK, AXISBANK, and HDFCBANK experienced losses.

Also Read: NSE Share Bazaar Report – 11 January 2024

Other Index Performances

NIFTY NEXT 50

The NIFTY NEXT 50 index opened at 54,847.60, reaching a high of 54,852.90 and a low of 54,587.10. Closing at 54,742.90, it showed a positive trend from the previous close of 54,595.60.

NIFTY MIDCAP 50

The NIFTY MIDCAP 50 index displayed stability, opening at 13,345.60 and reaching a high of 13,375.85. The closing price stood at 13,353.80, showing an upward movement from the previous close of 13,271.65.

NIFTY FMCG

The NIFTY FMCG index performed well, opening at 56,279.10 and reaching a high of 56,559.90. The closing price settled at 56,485.75, marking an improvement from the previous close of 56,228.55.

NIFTY IT

On 12 January 2024, The NIFTY IT index experienced substantial growth, opening at 35,673.00 and reaching a high of 36,581.10. The closing price was 36,521.70, showcasing a notable increase from the previous close of 34,735.25.

NIFTY METAL

The NIFTY METAL index opened at 7,912.65, reaching a high of 7,938.80. The closing price settled at 7,898.35, indicating a positive trend from the previous close of 7,876.15.

NIFTY PHARMA

The NIFTY PHARMA index opened at 17,427.00 on 12 January 2024, reaching a high of 17,430.15. The closing price stood at 17,347.45, displaying a slight dip from the previous close of 17,380.55.

NIFTY PSU BANK

The NIFTY PSU BANK index opened at 5,733.15, reaching a high of 5,884.25. The closing price settled at 5,860.80, marking an improvement from the previous close of 5,703.85.

Option Chain Data For 12 January 2024

NIFTY Option Chain

In the option chain data for NIFTY, the top three changes in Open Interest Calls were observed in 21900CE (33,746), 21950CE (23,546), and 21700CE (-19,498). For Open Interest Puts, the top three changes were in 21800PE (1,34,434), 21700PE (1,37,888), and 21750PE (72,579).

NIFTY BANK Option Chain

In the BANKNIFTY option chain, significant changes in Open Interest Calls were seen in 47500CE (-48,049), 47600CE (-48,054), and 47900CE (30,518). For Open Interest Puts, the top three changes were in 47500PE (87,808), 47700PE (53,593), and 47800PE (42,243).

Conclusion

The market on 12 January 2024 reflected positive sentiments, driven by strong performances in key indices, especially NIFTY and BANKNIFTY. The quarterly results of INFY and TCS acted as catalysts, contributing to the overall upbeat atmosphere. A short covering move is visible in the option chain data. Investors are keenly watching the option chain data for potential future market trends.

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