GIFT NIFTY opened at 24,140.50 on Monday morning, down 85.5 points or 0.35% from its previous close of 24,200.50, setting a cautious tone for the Indian cash market open. The index briefly touched a session high of 24,144.50 in the opening minutes before weakening steadily through the first hour of trade.
The early session price action showed a clear downward drift. After opening marginally below Friday's close, GIFT NIFTY held relatively firm through 9:00 AM, trading between 24,130 and 24,144.50. However, the 9:10 AM five-minute candle saw fresh selling emerge, with the index sliding to a session low of 24,115 — putting it nearly 30 points below the opening level. As of 9:15 AM IST, the contract was trading at 24,115, marking the session low.
| Metric | Level |
|---|---|
| Open | 24,140.50 |
| High | 24,144.50 |
| Low | 24,115.00 |
| LTP (9:15 AM) | 24,115.00 |
| Change | -85.5 (-0.35%) |
The weakness in GIFT NIFTY came despite a broadly positive picture across Asian equity markets. Japan's Nikkei 225 closed at 68,557.73 on Friday, up 813.83 points or 1.20%, continuing its recent rally. Hong Kong's Hang Seng Index stood at 24,175.12, posting a gain of 144.94 points or 0.60%. India's Nifty 50 was reported at 24,206.90 in recent trade, up 1.02%, though this appeared to reflect prior session levels rather than Monday's live open.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 68,557.73 | +1.20% |
| Hang Seng | 24,175.12 | +0.60% |
| Nifty 50 | 24,206.90 | +1.02% |
The Nikkei 225 has been on a strong run in recent sessions, with the index trading in a 52-week range between 39,288.90 and 72,831.73. The benchmark Japanese index showed gains of 3.84% over the past month and a robust 20.44% over the past three months, reflecting sustained momentum in Tokyo despite global volatility.
Monday's softer open for GIFT NIFTY suggests Indian markets may be taking a breather after recent gains, even as regional peers maintain firmer footing. The 30-point slide from open to session low within the first 15 minutes of trade points to fresh supply at higher levels, with traders potentially booking profits ahead of the cash market open.
GIFT NIFTY is currently trading at its session low of 24,115, carving out an early range of 29.5 points between 24,115 and 24,144.50. The index remains below its opening level as selling pressure persists into the Indian market open.