GIFT NIFTY opened at 22,549.5 on Tuesday morning, 54 points above the previous close of 22,495.5, but failed to sustain the early lift. By 09:15 IST, the index had reversed into negative territory, trading at 22,433.5, down 62 points or 0.28%.
The session started with a modest gap-up, but selling pressure emerged within the first hour. The index reached an intraday high of 22,876.0 before sliding steadily lower, hitting a session low of 22,363.5. The 5-minute candle data shows a consistent downward drift from the 00:15 level of 22,536.0, with the index losing ground in successive intervals through the early Asian session.
| Metric | Level |
|---|---|
| Open | 22,549.5 |
| High | 22,876.0 |
| Low | 22,363.5 |
| LTP | 22,433.5 |
| Change | -62.0 (-0.28%) |
The weakness in GIFT NIFTY mirrors a broader selloff across Asian equity markets. Japan's Nikkei 225 plunged 1,487.22 points or 2.79% to close at 51,885.85, while Hong Kong's Hang Seng Index dropped 201.09 points or 0.81% to finish at 24,750.79.
The Indian cash market opened sharply lower, with the Nifty 50 falling to 22,331.40 and the BSE Sensex tumbling 1,635.67 points or 2.22% to 71,947.55. The steep decline in domestic benchmarks appears to have pulled GIFT NIFTY lower during the early session overlap.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 51,885.85 | -1,487.22 (-2.79%) |
| Hang Seng | 24,750.79 | -201.09 (-0.81%) |
| Nifty 50 | 22,331.40 | — |
| BSE Sensex | 71,947.55 | -1,635.67 (-2.22%) |
Singapore's FTSE Straits Times Index shed 0.92 points to 4,897.26, while China's SSE Composite Index bucked the regional trend, gaining 0.24% to 3,923.29. Market participants cited volatility in crude oil prices as a contributing factor to the risk-off sentiment across Asia-Pacific equities.
GIFT NIFTY is currently trading 116 points below its session high and 70 points above the morning low, reflecting choppy price action as traders digest the sharp losses in regional benchmarks. The index has given back its entire opening gap and is now testing support levels established during the previous session.