GIFT NIFTY settled at 24,457.0 on August 13, gaining 39 points or 0.16% from the previous close of 24,418.0, even as the Indian cash market ended a choppy session on a weak note. The Nifty 50 slipped to 24,360.80, down 75.15 points or 0.31%, while the Sensex closed at 77,839.47, shedding 126.88 points. Both benchmarks trimmed earlier losses but remained under pressure through the final hour.
Indian Market Struggles Amid Sectoral Divergence
The domestic session opened marginally higher with Nifty 50 at 24,431.60 but failed to hold gains, sliding to an intraday low of 24,311.40 before recovering modestly. Sensex mirrored the decline, falling over 200 points mid-session before paring losses. Sectoral performance showed divergence, with sugar stocks leading gains at 1.74%, followed by building materials at 1.49% and media & entertainment at 1.37%. Telecom equipment and infrastructure services added 1.23%.
Broader market indices witnessed mixed action as market participants remained cautious. Volume activity picked up during the afternoon session, but buying interest remained selective. The Nifty Alpha 50 index managed to edge up 191.75 points or 0.34% to 56,434.10, outperforming the benchmark.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 24,360.80 | -75.15 | -0.31% |
| Sensex | 77,839.47 | -126.88 | -0.16% |
GIFT NIFTY Tracks Volatile Cash Market Session
GIFT NIFTY opened Session I at 24,420.5 and traded in a narrow band through the early Asian hours before slipping to an intraday low of 24,376.0 shortly after the Indian market open. The contract witnessed sharp volatility around midday, plunging nearly 120 points from 24,442.5 to 24,376.0 within an hour, mirroring the cash market selloff. A recovery attempt in the final hour pushed the contract to a session high of 24,496.5 at 14:30 IST, before settling at 24,457.0.
The intraday range of 120.5 points reflected heightened uncertainty, with GIFT NIFTY oscillating between profit-booking and value-buying. The contract tracked the cash market's weakness through most of the session but managed to close in positive territory, suggesting resilience heading into the second trading window.
| Parameter | Level |
|---|---|
| Open | 24,420.5 |
| High | 24,496.5 |
| Low | 24,376.0 |
| LTP | 24,457.0 |
| Change | +39.0 (+0.16%) |
GIFT NIFTY now heads into Session II at 24,457.0, with overnight global cues likely to dictate near-term direction as traders assess the sustainability of the late-session bounce in domestic equities.