GIFT NIFTY opened down 0.18% at 24,223.50 on Friday morning, slipping 43.5 points from the previous close of 24,214.00. The index briefly touched its session high at the open before drifting lower through the first hour of trade, settling near 24,170.50 as the Indian cash market came online at 09:15 IST.
Early session price action showed steady erosion from the opening level. After holding above 24,210 for the first 15 minutes, the index slid to 24,189 by 00:20 hours and accelerated losses past 00:30 hours, dropping to an intraday low of 24,168.00. The decline marked a 55-point retreat from the opening print, with selling pressure intensifying through the pre-cash-market session.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 24,223.50 |
| High | 24,223.50 |
| Low | 24,168.00 |
| LTP (09:15 IST) | 24,170.50 |
| Change | -43.5 (-0.18%) |
Asian Cues Turn Mixed
Asian markets presented a mixed picture heading into Friday's session. Hong Kong's Hang Seng Index surged 1.72% to 26,394.26, recovering from recent weakness. Japan's Nikkei 225 climbed 2.38% to 59,518.34, posting strong gains. Meanwhile, India's Nifty 50 Index traded at 24,196.75, reflecting a cautious start to domestic trade.
The fragmented regional performance appeared to weigh on GIFT NIFTY's early momentum. Despite the Nikkei's rally and Hang Seng's strength, the Singapore-traded contract failed to sustain opening levels, suggesting traders focused on profit-booking after recent advances.
Regional Index Performance
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 59,518.34 | +1,384.10 (+2.38%) |
| Hang Seng | 26,394.26 | +446.94 (+1.72%) |
| Nifty 50 | 24,196.75 | — |
Early Session Weakness
Five-minute candle data traced the index's descent through the opening hour. From 24,222 at the session start, GIFT NIFTY shed ground methodically, breaking below 24,200 by the half-hour mark and continuing to 24,161 at 00:50 hours. A brief bounce to 24,176 failed to hold, and the index tested fresh lows near 24,144.50 by 01:10 hours.
The downward drift occurred despite robust gains in Tokyo and Hong Kong, pointing to local factors or positioning adjustments ahead of the Indian market open. Volume patterns suggested sustained selling rather than sharp liquidation, with no major whipsaw reversals in the early candles.
At 09:15 IST, GIFT NIFTY traded at 24,170.50, just 2.5 points above the session low and 53 points below the opening print. The index has carved out a narrow 55-point range so far, with resistance now seen at the 24,200 level and support at the 24,168 low printed earlier in the session.