GIFT NIFTY opened at 23,912.0 on Monday, down 46 points or 0.19% from the previous close of 23,930.5, as the index gave up early overnight gains and settled into negative territory ahead of the Indian cash market open. The contract is trading at 23,884.5 as of 09:15 IST, having touched a session high of 23,914.5 and a low of 23,883.0.
The index started the overnight session around midnight Singapore time near 23,994.5, reaching an early peak of 24,000.0 before a steady drift lower set in. By 00:35 IST, GIFT NIFTY had slipped below 23,980, and the decline accelerated through the first hour of trade, with the contract touching 23,955.0 by 01:05 IST. The downward pressure extended into the Indian morning session, leaving the index 110 points below its overnight high.
| Metric | Level |
|---|---|
| Open | 23,912.0 |
| High | 23,914.5 |
| Low | 23,883.0 |
| LTP | 23,884.5 |
| Change | -46.0 (-0.19%) |
Asian market cues offered limited clarity. The Nikkei 225 has been volatile in recent sessions, with one reference showing a prior close at 69,317.50, up 4.99%, while another indicated the index trading in a range of 64,998.11 to 67,065.94. The Hang Seng Index was referenced at 24,128.48, up 1.15% in one session, and at 24,842.67, up 0.50% in another, reflecting the fragmented nature of available regional data.
The Hang Seng China Enterprises Index stood at 8,203.05, up 1.39%, while the Hang Seng TECH Index gained 2.03% to 4,628.77. The Shanghai Composite was cited at 4,096.47, up 1.61%. South Korea's Kospi and Japan's Topix were reported to have hit record highs in late May, though no specific levels for the current session were available.
GIFT NIFTY's modest decline comes despite some positive regional undertones, suggesting domestic factors or profit-taking after recent gains may be weighing on sentiment. The contract's inability to hold the 24,000 mark overnight and the sustained selling through the early Asian hours point to cautious positioning by traders ahead of the Indian market open.
The index is now trading in a tight 31.5-point range between 23,883.0 and 23,914.5, with the last traded price of 23,884.5 sitting near the lower end of that band. The early session pattern shows sellers in control, with each attempt to recover meeting fresh resistance. Whether GIFT NIFTY can stabilize around current levels or faces further pressure will depend on how the Nifty 50 and Sensex perform in early cash market trade.