GIFT NIFTY opened at 22,632.5 on October 02, marking a gain of 141.5 points or 0.63% from the previous close of 22,491.0. The opening built on overnight momentum from Asian markets, where Japan's Nikkei 225 surged 2,203.00 points to close at 68,956.72, a rally of 3.30%.
The early session saw a volatile range develop within the first hour. After opening near 22,632.5, the index initially traded sideways before climbing to an early high of 22,700.0. However, momentum faltered mid-session as profit-taking emerged, driving the index down to a low of 22,278.0 — a swing of over 420 points from the session high.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 22,632.5 |
| High | 22,700.0 |
| Low | 22,278.0 |
| Last Traded Price | 22,624.5 |
| Change | +133.5 (+0.59%) |
Five-minute candle data from the early session showed choppy price action. The index opened the overnight session at 22,553.0 and climbed steadily through 22,580.0 in the first half-hour. A pullback followed, with the index dipping below 22,550.0 before recovering to 22,577.0 by the end of the sampled period.
As of the latest reading at 06:07 IST, GIFT NIFTY was trading at 22,624.5, holding onto most of the opening gains despite the intraday volatility. The index remained 133.5 points above the previous close.
Regional Market Cues
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 68,956.72 | +2,203.00 (+3.30%) |
| Hang Seng Index | 24,613.27 | +89.70 (+0.37%) |
| BSE Sensex | 71,909.70 | -570.59 (-0.79%) |
The Nikkei's sharp rally provided the primary tailwind for Asian markets overnight. Hong Kong's Hang Seng Index closed up 89.70 points at 24,613.27, a gain of 0.37%. China's SSE Composite Index added 0.31%, climbing 11.74 points to 3,842.19.
Indian equities opened under pressure despite the positive GIFT NIFTY cues. The BSE Sensex fell 570.59 points to 71,909.70, down 0.79% at the cash market open at 09:15 IST. The divergence between offshore and onshore sentiment points to domestic factors weighing on investor appetite in early trade.
GIFT NIFTY's wide intraday range of 422 points reflects the tug-of-war between bullish Asian cues and cautious positioning ahead of the Indian market open. The index is currently trading near the upper end of the session range, suggesting early buyers retained control despite the mid-session dip.