GIFT NIFTY opened nearly flat at 24,350.0 on Monday morning, edging up just 0.5 points or 0.002% from the previous close of 24,349.5. The Singapore-traded index tracked sideways in early trade as Asian markets delivered mixed cues and investors awaited the domestic cash market open.
The index initially pushed higher in the first 15 minutes of the session, touching an intraday peak of 24,398.5 before retreating. The 09:00 IST five-minute candle showed strength with prices climbing to 24,376.0, but momentum faded through the subsequent candles. By 09:10 IST, GIFT NIFTY had slipped back to 24,356.5 as buyers stepped aside.
As of 09:15 IST, GIFT NIFTY was trading at 24,355.5, holding a slim 6-point gain from Friday's close. The early session range stood tight at 50 points, spanning from a low of 24,348.5 to the morning high of 24,398.5.
Asian Market Backdrop
Regional equity markets provided a modestly positive backdrop for Monday's open. The Hang Seng Index climbed 1.28%, adding 295.00 points to settle at 23,350.03. The Hang Seng China Enterprises Index rose 1.15% to 7,699.76, while the Hang Seng TECH Index gained 1.00% to reach 4,499.00.
Japan's Nikkei 225 closed its Friday session at 69,744.07, up 1,010.97 points or 1.47%. The Shanghai Composite Index posted a smaller advance of 0.37%, gaining 14.74 points to finish at 4,043.64.
| Index | Level | Change | % Change |
|---|---|---|---|
| Hang Seng Index | 23,350.03 | +295.00 | +1.28% |
| Nikkei 225 | 69,744.07 | +1,010.97 | +1.47% |
| SSE Composite | 4,043.64 | +14.74 | +0.37% |
Early Session Snapshot
Despite the positive tone across Hong Kong and Japanese equities, GIFT NIFTY struggled to build on the regional momentum. The subdued opening and narrow trading range suggest investors are exercising caution as the new trading week begins.
The Indian cash market opened at 09:15 IST with GIFT NIFTY holding just above the 24,350 level. The index's failure to sustain the early climb to 24,398.5 indicates limited conviction among early buyers, though selling pressure remained equally muted.
| Metric | Level |
|---|---|
| Open | 24,350.0 |
| High | 24,398.5 |
| Low | 24,348.5 |
| LTP | 24,355.5 |
| Change | +6.0 (+0.02%) |
GIFT NIFTY is currently trading at 24,355.5, holding a narrow 6-point gain as domestic traders digest the weekend news flow and position for the week ahead. The index has carved out a tight 50-point range in the opening 75 minutes, with neither bulls nor bears able to establish control.