GIFT NIFTY opened lower on Friday, May 15, at 23,763.5, down 101.5 points or 0.5% from the previous close of 23,865.0. The index touched a session high of 23,778.0 in early trade before slipping to 23,738.5, trading at 23,745.0 as the Indian cash market commenced at 09:15 IST.
The early session saw steady erosion from overnight levels. GIFT NIFTY had opened the Singapore hours at 23,795.5, briefly touching 23,811.0 in the first half-hour before a measured decline through the Asian morning. By 01:10 Singapore time, the index had drifted to 23,792.5, shedding roughly 17 points from the overnight open.
| Session Snapshot | Level |
|---|---|
| Open | 23,763.5 |
| High | 23,778.0 |
| Low | 23,738.5 |
| LTP | 23,745.0 |
| Change | -120.0 (-0.5%) |
Asian markets presented a fragmented picture. Japan's Nikkei 225 declined 0.98%, trading at 62,654.05 after dropping 618.06 points, extending losses from the previous session. Hong Kong's Hang Seng Index showed marginal gains, up 0.30% at 26,468.60, though earlier data suggested the index was essentially flat at 26,389.04. The Hang Seng opened at 26,844.8 before paring some of those gains.
| Asian Index | Level | Change |
|---|---|---|
| Nikkei 225 | 62,654.05 | -618.06 (-0.98%) |
| Hang Seng Index | 26,468.60 | +0.30% |
| Hang Seng China Ent | 8,876.38 | +0.07% |
The weakness in Japanese equities appeared to weigh on regional sentiment, with the Nikkei's near-1% decline representing a notable retreat after recent strength. The index has posted a one-year gain of 64.3%, but Friday's session marked a reversal from that upward trajectory.
Hong Kong markets showed resilience in pockets. The Hang Seng TECH Index advanced 0.46% to 5,093.85, while the broader Hang Seng China Enterprises Index edged up 0.07% to 8,876.38. Volume in Hong Kong stood at 3.12 billion shares, slightly below the three-month average of 3.23 billion.
GIFT NIFTY's decline of 120 points from the previous close of 23,865.0 kept the index comfortably above the 23,700 level, with the intraday range spanning just 39.5 points. The subdued volatility suggested cautious positioning ahead of the domestic market open, with traders parsing mixed signals from the wider Asia-Pacific region.
The index is currently trading at 23,745.0, down 0.5% from Thursday's settlement, holding within the morning's established range as Indian equity benchmarks began their own trading sessions.