GIFT NIFTY opened 0.7% lower at 24,279.5 on Thursday morning, down 170.5 points from the previous close of 24,308.5, as regional cues turned mixed with Hong Kong markets extending losses into a second session.
The index surrendered early gains within the first hour of trade, sliding from the opening level to touch a session low of 24,120.5 by mid-morning. The early session saw steady pressure with GIFT NIFTY unable to hold above the 24,300 mark, trading at 24,138.0 as of 11:17 AM Singapore time.
Early Session Price Action
GIFT NIFTY started the overnight session marginally higher at 24,321.5 before peaking at 24,336.0 in the first 10 minutes. The index then reversed course, breaking below 24,315 within 15 minutes and continuing a gradual descent through the pre-market hours. By the 55-minute mark, the index had slipped to 24,281.0 before attempting a brief recovery that stalled near 24,307.0.
The downdraft accelerated into the Indian cash market open, with GIFT NIFTY carving out a morning range of 163 points between the high of 24,283.5 and the low of 24,120.5.
Asian Market Snapshot
| Index | Level | Change |
|---|---|---|
| Hang Seng Index | 25,912.15 | -0.96% |
| Nikkei 225 | 59,889.04 | +0.51% |
Hong Kong's Hang Seng Index fell 0.96% to 25,912.15 as of late morning trade, extending losses from the previous session's close of 26,163.24. The index opened at 26,090 before sliding through the session, adding to regional uncertainty despite strength in other Asian bourses.
Japan's Nikkei 225 climbed 0.51% to 59,889.04, holding near record territory with a session high of 60,013.98. The Tokyo benchmark opened at 59,758.64 and advanced steadily through the morning, providing a partial offset to weakness emanating from Hong Kong.
GIFT NIFTY Session Data
| Metric | Level |
|---|---|
| Open | 24,279.5 |
| High | 24,283.5 |
| Low | 24,120.5 |
| LTP | 24,138.0 |
| Change | -170.5 (-0.7%) |
The divergence in Asian markets left GIFT NIFTY navigating conflicting signals at the open, with Tokyo's strength failing to counter the drag from Hong Kong's decline. The index is trading 141.5 points below its opening level, suggesting sustained selling pressure through the first three hours of the session.
GIFT NIFTY is currently trading near the lower end of its morning range at 24,138.0, down 0.7% from the previous close and testing support levels as Indian equity markets begin the cash session.