GIFT NIFTY opened sharply lower at 23,950 on Monday morning, down 503.5 points or 2.07% from its previous close of 24,323. The pre-market gauge of Indian equities gapped down at the 08:00 IST session start, tracking weakness in domestic sentiment as the cash market prepared to open.
The opening gap did not hold. Within the first hour of trading, GIFT NIFTY slid an additional 289 points to touch a session low of 23,661 at 09:00 IST. The index struggled to find support through the early candles, briefly stabilizing near 23,760 before crawling back toward 23,820 by 09:15 IST as the Nifty 50 and Sensex commenced trading on the National Stock Exchange and Bombay Stock Exchange.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,950.0 |
| High | 23,950.0 |
| Low | 23,661.0 |
| Last Traded Price | 23,819.5 |
| Previous Close | 24,323.0 |
| Change | -503.5 (-2.07%) |
Asian Markets Diverge
The sharp drop in GIFT NIFTY came against a mixed backdrop across Asian bourses. Hong Kong's Hang Seng Index closed Friday at 25,757.29, up 435.95 points or 1.72%, while Japan's Nikkei 225 finished at 55,620.84, gaining 342.78 points or 0.62%. China's Shanghai Composite Index edged up 15.63 points to settle at 4,124.19.
India's cash market opened under pressure. The BSE Sensex Index stood at 78,918.90, down 1,097 points based on available data from last week's close, reflecting the negative sentiment that pulled GIFT NIFTY lower in early trade.
Regional Index Levels
| Index | Level | Change |
|---|---|---|
| Hang Seng Index | 25,757.29 | +435.95 (+1.72%) |
| Nikkei 225 | 55,620.84 | +342.78 (+0.62%) |
| Shanghai Composite | 4,124.19 | +15.63 (+0.38%) |
| BSE Sensex | 78,918.90 | -1,097.00 |
Early Session Action
The 5-minute candle sequence illustrated the morning's volatility. After opening at 23,950, the index plunged to 23,661 in the first 15 minutes, marking a 289-point intraday swing. The 09:00 to 09:05 IST window saw a modest recovery attempt from 23,760 to 23,781, and by 09:10 IST the index had clawed back to 23,820.
As of 09:15 IST, GIFT NIFTY was trading at 23,819.50, still down 503.5 points or 2.07% from Friday's settlement. The opening level of 23,950 remained the session high, underscoring the persistent selling pressure through the first 75 minutes of trade. The 289-point gap between the day's high and low highlighted the sharp intraday reversal that began immediately after the opening bell.