GIFT NIFTY opened 39 points higher at 23,884 on May 28, reversing course within the first 75 minutes to trade at 23,812.50 as of 09:15 IST, down 32.5 points or 0.14% from the previous close of 23,845. The early session saw the index touch an intraday high of 23,897 before slipping to a low of 23,805, marking a 92-point range.
The pre-market session began with modest strength, with GIFT NIFTY climbing steadily from the opening print near 23,844.50 at midnight. The index added nearly 50 points in the first 40 minutes, peaking at 23,898 around 00:35 IST, reflecting initial positive sentiment.
That momentum proved short-lived. GIFT NIFTY began retreating from the 23,880-23,890 zone around 00:45 IST, shedding gains in a steady downward drift. By 01:05 IST, the index had fallen to 23,831, erasing the entire opening gap and dipping below the previous close. The early session pattern suggests buyers failed to defend the higher levels despite the positive open.
Regional Markets Mixed
Asian equity markets showed mixed signals. The Hang Seng Index traded at 25,328.23, up 271.22 points, while the Hang Seng China Enterprises Index gained 113.87 points to 8,463.02. The Hang Seng HK 35 Index added 28.66 points to 3,198.23. Regional cues provided limited directional clarity for Indian futures.
Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,884.0 |
| High | 23,897.0 |
| Low | 23,805.0 |
| Last Traded Price | 23,812.5 |
| Previous Close | 23,845.0 |
| Change | -32.5 (-0.14%) |
Regional Indices
| Index | Level | Change |
|---|---|---|
| Hang Seng Index | 25,328.23 | +271.22 |
| Hang Seng China Enterprises | 8,463.02 | +113.87 |
| Hang Seng HK 35 | 3,198.23 | +28.66 |
GIFT NIFTY now trades 72 points below its session high and just 7.5 points above the early morning low, suggesting the index is testing support near the 23,800 level. The Indian cash market opened at 09:15 IST with GIFT NIFTY unable to hold the opening gap despite positive Hong Kong market cues.