GIFT NIFTY opened 58 points lower at 23,931.50 on Thursday morning, slipping 0.24% from the previous close of 24,011 despite broad-based strength across Asian equity markets. The offshore Nifty derivative has traded in a narrow 54-point range between 23,925.50 and 23,979.50 in early deals, holding just below the 24,000 mark as of 9:15 AM IST.
The index opened with a modest downward gap after overnight trading showed gradual softening from pre-market levels near 24,045. Five-minute interval data shows GIFT NIFTY drifted lower through the early Asian session, dropping from 24,061.50 in the opening minutes to test support near 23,995.50 by 12:30 AM SGT before stabilizing above 24,000 ahead of the Indian cash market open.
Asian Markets Surge Led by Japan
The muted GIFT NIFTY performance stands in sharp contrast to a robust rally across regional bourses. Japan's Nikkei 225 surged 2,878.86 points or 5.39% to close at 56,308.42, marking one of the strongest single-day gains in recent sessions. Hong Kong's Hang Seng Index jumped 776.49 points or 3.09% to settle at 25,893.02, building on the positive momentum that swept through Asia-Pacific trading.
The divergence suggests Indian markets are trading on domestic considerations rather than following the regional trend. GIFT NIFTY's inability to sustain pre-market levels near 24,050 points to cautious positioning ahead of the domestic cash market open.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,931.50 |
| High | 23,979.50 |
| Low | 23,925.50 |
| Last Price | 23,953.00 |
| Previous Close | 24,011.00 |
| Change | -58.00 (-0.24%) |
Regional Index Performance
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 56,308.42 | +2,878.86 (+5.39%) |
| Hang Seng | 25,893.02 | +776.49 (+3.09%) |
GIFT NIFTY is currently trading at 23,953, roughly 22 points above the session low and 26 points below the early high. The index has recovered modestly from the intraday trough but remains firmly in negative territory for the session, trading 58 points below Wednesday's settlement level.