GIFT NIFTY opened 0.46% lower at 23,856 on Thursday morning, down 111 points from its previous close of 23,898, as Asian markets broadly retreated amid ongoing concerns over the Iran conflict and its impact on crude oil prices.
The opening gap-down marked a weak start to the Indian trading day, with the Singapore-traded index immediately testing support levels. By 09:15 IST, GIFT NIFTY was trading at 23,787, having touched an early session low of 23,780.5 and a high of 23,857.
The early session saw choppy price action as traders absorbed overnight developments. After opening lower, the index briefly attempted a recovery in the first hour of trade, climbing to 23,931.5 around 00:40 SGT before losing momentum. The subsequent drift brought prices back toward opening levels, with the index settling into a narrow 76-point range between 23,780.5 and 23,857 in the first 75 minutes of trading.
Asian Markets Extend Losses
Regional bourses traded under pressure as geopolitical tensions continued to fuel uncertainty. Japan's Nikkei 225 declined 1.0% to 54,475.23, retreating from its previous close of 55,025.37. The index opened at 54,387.90 and traded in a range of 54,107.16 to 54,501.75 during the session.
Hong Kong's Hang Seng Index slipped 0.24% to 25,898.76, down 61.14 points from its prior close of 25,959.90. The index opened at 26,112.08 and saw a day's range between 25,819.10 and 26,149.64.
Market participants cited the ongoing Iran war as a primary driver of the risk-off sentiment sweeping through Asia-Pacific equities. The conflict has reignited concerns about supply disruptions in global oil markets, adding volatility to energy-sensitive sectors across the region.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,856.0 |
| High | 23,857.0 |
| Low | 23,780.5 |
| Last Traded Price | 23,787.0 |
| Previous Close | 23,898.0 |
| Change | -111.0 (-0.46%) |
Regional Index Performance
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 54,475.23 | -1.00% |
| Hang Seng | 25,898.76 | -0.24% |
| GIFT NIFTY | 23,787.0 | -0.46% |
The weak opening in GIFT NIFTY signals cautious sentiment ahead of the Indian cash market session, with the index trading 111 points below its previous close as the broader Asian downdraft weighs on near-term direction. The early session range of 23,780.5 to 23,857 establishes key technical levels as traders assess the spillover from regional weakness and monitor developments in crude oil markets.