GIFT NIFTY Closes at 23,445 as Nifty Slips 0.5%, Data Awaited on Cash Market Close

GIFT NIFTY closed Monday's opening session at 23,445.5, down 126.5 points or 0.54% from the previous close of 23,572.0, as Indian equity markets appeared to trade under pressure through the afternoon.

The offshore derivative gauge opened at 23,474.0 and spent the morning in a narrow band around opening levels before encountering sharp selling pressure near midday. The contract hit an intraday low of 23,402.5 around 12:30 IST before staging a modest recovery into the close. The session high of 23,506.0 was tested in early trade.

GIFT NIFTY Session Dynamics

The contract opened steady but drifted lower through the first two hours of trade, shedding nearly 60 points by 11:30 IST. A sharp mid-session selloff accelerated the decline, with GIFT NIFTY dropping 100 points in under 90 minutes to breach the 23,400 mark. Buyers emerged in the afternoon, lifting the index back above 23,500 briefly after 15:30 IST, before sellers reasserted control in the final two hours.

The 104-point intraday range reflected moderate volatility as market participants navigated the session without clear directional conviction. GIFT NIFTY spent the bulk of the afternoon oscillating in a 50-point band between 23,430 and 23,480 before closing near session lows.

Indian Market Close Awaited

No immediate data on Nifty 50 or Sensex closing levels was available at the time of this report. Market participants will look to official cash market figures to confirm directional alignment with the offshore derivatives session.

Details on sectoral performance, foreign institutional investor flows, and individual stock movements remained unavailable in the immediate aftermath of the 15:30 IST close.

Session Snapshot

GIFT NIFTY heads into Session II with a modest negative bias, trading 126 points below Friday's close as participants await cues from global markets and domestic economic indicators.