GIFT NIFTY opened the week on a subdued note at 24,686.5, slipping 57 points or 0.23% from the previous close of 24,719.5. The index touched an early high of 24,688.5 before drifting lower in the first 15 minutes of trade.
The opening gap down extended through the early session as the index struggled to reclaim the 24,680 mark. By 09:00 IST, GIFT NIFTY had edged down to 24,670.5, and the next two five-minute candles showed further weakness. The 09:05 candle closed at 24,664.0, and by 09:10, the index had slipped to 24,662.5, testing the session low. As of 09:15 IST, the last traded price stood at 24,662.5, carving out an early range of 24,688.5 to 24,662.5.
| Metric | Value |
|---|---|
| Open | 24,686.5 |
| High | 24,688.5 |
| Low | 24,662.5 |
| LTP | 24,662.5 |
| Change | -57.0 (-0.23%) |
The cautious start mirrors mixed sentiment across Asian markets. Japan's Nikkei 225 closed Friday at 65,606.71, down 76.59 points or 0.12%, while Hong Kong's Hang Seng Index showed resilience with a 0.54% gain to 25,668.03. The Shanghai Composite climbed 1.02% to 3,940.04, providing some offset to the regional weakness.
India's Nifty 50 opened at 24,570.65, down 0.27% from its previous close, underperforming GIFT NIFTY's early indication. The domestic cash market's subdued start aligns with the offshore futures signal, with both indices hovering near the 24,600 psychological support level.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 65,606.71 | -0.12% |
| Hang Seng | 25,668.03 | +0.54% |
| SSE Composite | 3,940.04 | +1.02% |
| Nifty 50 | 24,570.65 | -0.27% |
The early session price action suggests traders are positioning defensively ahead of the week, with GIFT NIFTY unable to find buying support even at lower levels. The index has now posted three consecutive lower closes in the five-minute chart, with selling pressure intensifying as the Indian cash market opened.
GIFT NIFTY is currently trading at 24,662.5, hovering near the session low and down 24 points from the opening print. The 26-point opening-to-current range reflects choppy, directionless trade as market participants assess the regional landscape and await domestic cues.