GIFT NIFTY opened at 23,131 on Tuesday morning, down 65.5 points or 0.3% from the previous close of 23,173.5, as Asian markets reeled from a sharp selloff led by Japan's Nikkei 225.
The SGX Nifty 50 index futures contract opened marginally below overnight levels and drifted steadily lower through the first 75 minutes of trade. After touching a session high of 23,178 in the opening quarter-hour, the index slipped below 23,150 by 00:30 and accelerated losses after 01:00, hitting an intraday low of 23,084 just ahead of the Indian cash market open at 09:15 IST.
| Metric | Level |
|---|---|
| Open | 23,131.0 |
| High | 23,131.0 |
| Low | 23,084.0 |
| LTP (09:15 IST) | 23,108.0 |
| Change | -65.5 (-0.28%) |
The weakness in GIFT NIFTY mirrored a brutal session for Japanese equities, where the Nikkei 225 plunged 2,563.52 points or 3.85% to close at 64,024.60 in Osaka. The Nikkei's five-day decline now stands at 4.35%, erasing gains from earlier in the month when the index had posted a 2.09% advance over the trailing 30 days.
Hong Kong's Hang Seng Index showed relative resilience, trading at 24,652.08 in recent sessions according to index compiler data, though directional moves for Tuesday remained unclear in early search results. The Hang Seng China Enterprises Index stood at 8,344.78 while the Hang Seng TECH Index traded at 4,764.39.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 64,024.60 | -3.85% |
| Hang Seng | 24,652.08 | — |
| HSI China Enterprises | 8,344.78 | — |
| HSI TECH | 4,764.39 | — |
Indian market search data referenced a Nifty 50 Index level of 23,123.00 with a decline of 1.04%, though the timing and context of that print remained ambiguous in the available results. The Shanghai SSE Composite Index was cited at 3,959.34, down 1.70%.
GIFT NIFTY's early session range of 47 points reflected cautious positioning ahead of the domestic cash market open. The index spent most of the pre-market session oscillating in a 20-point band between 23,150 and 23,170 before the post-01:00 slide took it decisively below the 23,120 mark. At 09:15 IST, GIFT NIFTY was trading at 23,108, just 24 points above the session low and 23 points below the open, as traders digested the scale of the Nikkei's overnight rout and awaited cues from Indian benchmark indices.