GIFT NIFTY Holds Modest Gains Despite Regional Headwinds
GIFT NIFTY opened at 24,330 on Friday morning, a marginal 25-point gap above Thursday's close of 24,355, and extended gains to 24,397.50 by the time Indian cash markets commenced trading at 09:15 IST. The 0.17% advance came despite sharp losses in Tokyo, where the Nikkei 225 closed down 1,741.81 points or 2.47% at 68,733.15.
The session opened with mild choppiness. After an initial dip to 24,315 in the first five minutes, the index climbed steadily through the 00:10 to 00:25 IST window, touching 24,345 before settling back. A second leg lower between 00:35 and 01:10 IST saw the contract test 24,300, marking the early session low, before recovering to current levels near 24,397.50.
| Metric | Level |
|---|---|
| Open | 24,330.0 |
| High | 24,399.0 |
| Low | 24,330.0 |
| LTP | 24,397.5 |
| Change | +42.5 (+0.17%) |
Regional Markets Split on Direction
Asian markets displayed sharp divergence in Friday trade. Japan's Nikkei 225 shed nearly 2.5% in a heavy selloff, closing at 68,733.15 after shedding 1,741.81 points. Hong Kong's Hang Seng Index moved in the opposite direction, rising 0.76% to 23,055.03 according to index data, while China's SSE Composite Index fell 2.03% to 4,028.90.
The Hang Seng opened at 23,071.43 and traded on volume of 4.14 billion shares. The Hang Seng Tech Index outperformed with a 1.80% gain to 4,472.23, while the Hang Seng China Enterprises Index added 0.62% to 7,558.30. India's Nifty 50 Index advanced 0.71% to 24,175.70 in early cash market trade, tracking the positive bias in GIFT NIFTY futures.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 68,733.15 | -2.47% |
| Hang Seng | 23,055.03 | +0.76% |
| SSE Composite | 4,028.90 | -2.03% |
| Nifty 50 | 24,175.70 | +0.71% |
Narrow Trading Band in Early Hours
GIFT NIFTY carved out a tight 99-point range in the pre-cash session, oscillating between 24,300 and 24,399. The contract spent the first hour mostly below the 24,340 mark before finding support near 24,300 and rebounding. Volume data showed consistent activity through the early candles, with no major directional conviction evident in the price action.
The index is currently trading near the top of its early session range at 24,397.50, up 42.5 points or 0.17% from the previous close. The modest uptick suggests traders are weighing Tokyo's sharp decline against firmer sentiment in Hong Kong and Shanghai tech names, while awaiting fresh cues from domestic cash market flows.