GIFT NIFTY opened sharply lower at 23,635.5 on Monday morning, down 193.5 points or 0.81% from the previous close of 23,755.0, tracking a broad sell-off across Asian markets as geopolitical tensions weighed on sentiment.
The index hit an early high of 23,635.5 at the open before drifting lower through the first 15 minutes of the session. By 09:15 IST, GIFT NIFTY was trading at 23,561.5, having touched an intraday low of 23,545.0 in the 09:00 IST five-minute candle.
Early Session Price Action
The opening gap lower set the tone for a choppy early session. Between 09:00 and 09:05 IST, the index tested support at 23,545.0 before recovering modestly to 23,565.5. The subsequent candles showed limited momentum, with GIFT NIFTY oscillating in a tight 30-point range between 23,550.5 and 23,579.0 as traders assessed the damage from overnight losses in regional markets.
| Metric | Level |
|---|---|
| Open | 23,635.5 |
| High | 23,635.5 |
| Low | 23,545.0 |
| LTP (09:15 IST) | 23,561.5 |
| Change | -193.5 (-0.81%) |
Regional Markets Under Pressure
Asian markets opened mixed to lower amid heightened geopolitical concerns. The Nikkei 225 closed down 1,244.81 points or 1.99% at 61,409.29 on May 15, pressured by fears of escalating Middle East tensions following overnight Iranian strikes on Israel. The Hang Seng Index fell 426.31 points or 1.62% to close at 25,962.73, extending losses as risk appetite deteriorated across the region.
Indian benchmark indices mirrored the cautious sentiment, with the Nifty 50 opening at 23,643.50 according to available data, while the broader Asian sell-off continued to reverberate through early Monday trading.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 61,409.29 | -1,244.81 (-1.99%) |
| Hang Seng | 25,962.73 | -426.31 (-1.62%) |
| Nifty 50 | 23,643.50 | — |
Geopolitical Risk Dominates
The overnight sell-off in Japanese and Hong Kong markets reflected mounting investor anxiety over Middle East developments, with traders repositioning ahead of potential volatility. The cautious tone carried through to Monday's Asian session, with GIFT NIFTY's opening gap lower signaling risk-off sentiment among offshore participants.
As of 09:15 IST, GIFT NIFTY was trading 74 points below its opening level, consolidating near session lows. The early session range of 90.5 points between 23,545.0 and 23,635.5 suggested traders were in wait-and-see mode, with the index holding just above the psychological 23,500 mark as the Indian cash market opened for business.