GIFT NIFTY opened at 23,884 on Thursday morning, gaining 45 points or 0.19% from the previous close of 23,869.5, as traders digested mixed signals from Asian markets ahead of the Indian cash market open.
The early session saw the index extend gains, touching an intraday high of 23,921 within the first 15 minutes of trading. As of 09:15 IST, GIFT NIFTY was trading at 23,914.5, holding near the upper end of its opening range.
Early Session Price Action
The overnight session starting at midnight Singapore time showed initial strength, with GIFT NIFTY opening around 23,953. However, the contract drifted lower through the early Asian hours, slipping from the 23,950 zone to test support near 23,923.5 by 01:10 SGT. The index shed roughly 30 points during this phase as Asian markets opened with losses.
By the time Indian trading hours approached, GIFT NIFTY had stabilized and recovered from overnight lows, staging a modest bounce of about 60 points from the session bottom of 23,882.5.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,884.0 |
| High | 23,921.0 |
| Low | 23,882.5 |
| LTP | 23,914.5 |
| Change | +45.0 (+0.19%) |
Asian Market Cues
Regional indices presented a mixed picture at Thursday's open. Japan's Nikkei 225 closed at 66,115.60, down 116.59 points or 0.18% from the previous session's close of 66,232.19. The index had opened at 66,449.27 and traded in a range between 65,955.60 and 67,592.20 during the session.
Hong Kong's Hang Seng Index showed sharper weakness, falling 239.63 points or 0.95% to close at 24,892.66. The index's session range spanned from 24,802.06 to 25,040.27.
China's SSE Composite Index bucked the regional trend, edging up 0.07% to 3,867.03.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 66,115.60 | -0.18% |
| Hang Seng | 24,892.66 | -0.95% |
| SSE Composite | 3,867.03 | +0.07% |
Indian Cash Market Open
India's Nifty 50 Index opened lower at 23,996.25, down 0.79% in early trade, underperforming GIFT NIFTY's modest gains. The divergence suggested domestic factors may be weighing on sentiment as the cash session got underway.
GIFT NIFTY is currently trading at 23,914.5, maintaining a 38.5-point cushion above its session low and sitting just 6.5 points below the morning high of 23,921. The contract has traded in a tight 38.5-point range since the Indian market open, reflecting cautious positioning as traders assess the domestic open and await further directional cues.