GIFT NIFTY opened sharply lower at 22,499 on Monday morning, down 263.5 points or 1.16% from its previous close of 22,750. The opening gap reflected weakness across regional markets as traders returned from the weekend to face renewed pressure on Asian indices.
The early session saw immediate selling pressure as the index touched an intraday low of 22,410 within the first 10 minutes of trade. After testing support at that level, GIFT NIFTY recovered modestly to trade at 22,486.5 as of 09:15 IST, still holding well below the opening print. The session high of 22,500 came right at the open, establishing a narrow early range of 90 points.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 22,499.0 |
| High | 22,500.0 |
| Low | 22,410.0 |
| LTP (09:15 IST) | 22,486.5 |
| Previous Close | 22,750.0 |
| Change | -263.5 (-1.16%) |
Asian Markets Show Mixed Performance
The weakness in GIFT NIFTY came against a backdrop of divergent moves across Asian markets. The Nikkei 225 dropped 2.52% to 52,028.72, shedding 1,344.35 points in a sharp correction that weighed on regional sentiment. The Japanese benchmark's decline marked one of the more significant moves in the region and likely contributed to the negative opening in GIFT NIFTY.
Hong Kong's Hang Seng Index, however, moved in the opposite direction, gaining 0.38% to close at 24,951.88 with a gain of 95.45 points. The Hang Seng China Enterprises Index showed even stronger performance, rising 0.76% to 8,453.77, while the Hang Seng TECH Index added 0.35% to reach 4,778.01.
Regional Indices Summary
| Index | Level | Change | % Change |
|---|---|---|---|
| Nikkei 225 | 52,028.72 | -1,344.35 | -2.52% |
| Hang Seng | 24,951.88 | +95.45 | +0.38% |
| Hang Seng China Ent. | 8,453.77 | — | +0.76% |
| Hang Seng TECH | 4,778.01 | — | +0.35% |
Early Price Action
The five-minute candle data reveals the character of the early session weakness. The opening candle from 09:00 to 09:05 IST saw GIFT NIFTY drop from the 22,499 open to close at 22,449, establishing immediate downward momentum. The next candle brought fresh selling as the index probed down to the 22,410 low before finding buyers.
The 09:10 candle showed a modest recovery attempt, with GIFT NIFTY bouncing back toward the 22,497 level before settling at 22,486.5. This left the index trading 12.5 points above the session low but still 13.5 points below the opening level, suggesting bears maintained control of the early narrative despite the bounce off lows.
As of 09:15 IST, GIFT NIFTY was trading at 22,486.5, down 1.16% from the previous close and holding within a tight 90-point range. The sharp gap lower and failure to reclaim opening levels in the first 15 minutes of trade set a cautious tone as the Indian cash market opened for the day's session.