GIFT NIFTY opened 99 points lower at 24,131 on Tuesday morning, down 0.41% from its previous close of 24,151.5, as selling pressure across Asian markets weighed on early sentiment. The contract traded in a tight 90-point band in pre-market hours before slipping further after the Indian cash market bell.
The early session saw choppy price action. After opening at 24,131, the contract briefly tested 24,052.5 in the first fifteen minutes before drifting into a sustained decline. By the half-hour mark, GIFT NIFTY had slipped to 24,029, erasing most of the opening gap. The contract continued to grind lower through the next forty-five minutes, touching a session low of 23,956.5 and establishing a morning range of nearly 290 points from the high of 24,245.
As of 9:15 AM IST, GIFT NIFTY was trading at 24,052.5, roughly 80 points below its opening level and 190 points off the session high. The downward drift reflects sustained selling that accelerated after the initial hour of trade.
| GIFT NIFTY Session | Level |
|---|---|
| Open | 24,131.0 |
| High | 24,245.0 |
| Low | 23,956.5 |
| Last Traded Price | 24,052.5 |
| Change | -99.0 (-0.41%) |
Asian Markets Weigh on Sentiment
The weakness in GIFT NIFTY tracks broad declines across the Asia-Pacific region. Japan's Nikkei 225 closed down 619.90 points at 59,917.46, a loss of 1.02%, after opening higher at 60,531.78 and trading in a range between 59,701.84 and 60,634.66. The retreat snapped recent momentum in Japanese equities, which had posted a 17.34% gain over the prior month.
Hong Kong's Hang Seng Index fell 245.87 points to close at 25,679.78, down 0.95%. The Hang Seng China Enterprises Index dropped 1.27% to 8,644.81, while the Hang Seng TECH Index posted a sharper decline of 2.28% to 4,827.19. The Shanghai SSE Composite Index edged down 0.19% to 4,078.63.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 59,917.46 | -619.90 (-1.02%) |
| Hang Seng | 25,679.78 | -245.87 (-0.95%) |
| HSI China Enterprises | 8,644.81 | -1.27% |
| HSI TECH | 4,827.19 | -2.28% |
| SSE Composite | 4,078.63 | -0.19% |
Indian Cash Market Opens Lower
India's Nifty 50 Index was trading at 23,995.70 as regional weakness spilled into domestic equities. The broader declines across technology-heavy indices in Hong Kong and the retreat in Japanese markets after a strong monthly run suggest profit-taking may be driving the session's tone.
GIFT NIFTY's 24,052.5 level as of the Indian market open puts the contract nearly 200 points below its early session peak and 95 points below its opening print. The session low of 23,956.5 marks the weakest intraday level, with traders now watching whether the contract can stabilize above the psychological 24,000 mark as the cash session develops.