GIFT NIFTY opened sharply higher at 23,890 on Monday morning, marking a 252-point gain from Friday's close of 23,721. The 1.06% gap-up tracked strong overnight momentum from Asian bourses, led by Japan's Nikkei 225 which surged 2.68% to close at 63,339.07.
The early session showed strength as the index climbed through the first hour of trading. After opening at 23,890, GIFT NIFTY dipped to a session low of 23,880 in the 09:00 candle before recovering to 23,957. The bullish tone continued into the 09:05 period, when the index hit a session high of 23,996, briefly breaking through the 24,000 handle.
As the Indian cash market opened at 09:15 IST, GIFT NIFTY was trading at 23,973, holding nearly all of the opening gap and just 23 points below the early high. The tight 116-point intraday range between 23,880 and 23,996 suggested buyers were in control, with no significant profit-taking despite the strong opening move.
Asian Market Drivers
The Nikkei 225's 1,654-point rally on Friday provided the primary tailwind for Monday's gap-up. Japan's benchmark index closed at 63,339.07, up 2.68%, building on what has been a robust year with the index up 25.82% year-to-date according to available data.
Hong Kong's Hang Seng Index opened at 25,641.80 on Monday and was last trading at 25,606.03, up 0.86% or 219.51 points. China's SSE Composite Index showed gains of 0.87% to 4,112.90, adding to the positive regional sentiment.
Indian Market Open
The domestic Nifty 50 Index opened with modest gains of 0.27% to trade at 23,719.30, according to Asian market data. The relatively muted move in the cash market compared to GIFT NIFTY's stronger performance suggested futures were leading the spot index higher.
Session Snapshot
| Index | Open | High | Low | LTP | Change |
|---|---|---|---|---|---|
| GIFT NIFTY | 23,890.0 | 23,996.0 | 23,880.0 | 23,973.0 | +252.0 (+1.06%) |
Regional Markets
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 63,339.07 | +1,654.97 (+2.68%) |
| Hang Seng | 25,606.03 | +219.51 (+0.86%) |
| SSE Composite | 4,112.90 | +0.87% |
| Nifty 50 | 23,719.30 | +0.27% |
GIFT NIFTY is currently trading at 23,973, up 83 points from the opening level and holding just below the session peak. The early price action suggests the index is consolidating the opening gains rather than extending the rally, with resistance emerging just below the 24,000 psychological level.