GIFT NIFTY opened Monday's session 172 points lower at 24,217, down 0.71% from Friday's close of 24,259.5, as Asian markets traded mixed to negative ahead of the Indian cash market open.
The contract slipped further in the first 15 minutes of trading, touching an intraday low of 24,051 just after 9:00 AM SGT before stabilizing. At 9:15 AM IST, as Indian cash markets commenced trading, GIFT NIFTY was changing hands at 24,087.5, holding near session lows.
Early Session Weakness
The 5-minute candle action showed sellers in control through the early session. After the 24,217 open, the contract dropped 166 points within the first five minutes to bottom at 24,051. A modest bounce followed, with GIFT NIFTY recovering to 24,099 by the 9:10 AM interval, but unable to reclaim the opening level.
The 166-point range between the 24,217 high and 24,051 low reflected cautious positioning ahead of the Indian market open, with the contract trading in the lower half of that range as domestic traders entered the market.
Asian Market Weakness
Regional indices provided a weak backdrop. The Hang Seng Index fell 0.87% to 26,393.71, dropping 232.58 points as Hong Kong stocks extended losses. Japan's Nikkei 225 showed conflicting signals across different sessions, with Friday's close at 62,713.65 down 0.19%, though some data points indicated early Monday strength of 0.66% to 63,124.80.
The mixed Asian cues left GIFT NIFTY without clear directional momentum, contributing to the opening gap down and subsequent range-bound trading near session lows.
Session Snapshot
| Index | Open | High | Low | LTP | Change |
|---|---|---|---|---|---|
| GIFT NIFTY | 24,217.0 | 24,217.0 | 24,051.0 | 24,087.5 | -172.0 (-0.71%) |
Regional Indices
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 62,713.65 | -120.15 (-0.19%)* |
| Hang Seng | 26,393.71 | -232.58 (-0.87%) |
| BSE Sensex | 77,328.19 | — |
*Prior session close; conflicting intraday data available
GIFT NIFTY's 129.5-point drop from the opening print to current levels at 9:15 AM IST suggests early sellers maintained pressure, setting a cautious tone for Monday's Indian cash market session. The contract traded 35.5 points above the session low, indicating some support emerged near the 24,050 level.