GIFT NIFTY opened at 22,776.50 on Tuesday morning, down 44 points or 0.19% from the previous close of 22,799.00, as Indian cash markets commenced trading at 09:15 IST. The opening gap came despite broad-based gains across Asian indices, with Japan's Nikkei 225 surging 1.05% and Hong Kong's Hang Seng Index adding 1.00%.
Early session price action showed steady erosion from the opening level. After touching an intraday high of 22,893.50, GIFT NIFTY slipped through the first hour of trading, drifting to 22,754.00 by the time Indian markets opened. The contract last traded at 22,755.00, carving out a 139.50-point range between the session high and low.
GIFT NIFTY Session Snapshot
| Metric | Value |
|---|---|
| Open | 22,776.50 |
| High | 22,893.50 |
| Low | 22,754.00 |
| Last Traded Price | 22,755.00 |
| Change | -44.00 (-0.19%) |
The five-minute candle data revealed a gradual decline through the early session. GIFT NIFTY traded at 22,821.50 at the start of overnight trading, then steadily worked lower in 5 to 10-point increments. By 01:10 SGT, the contract had slipped to 22,788.50, marking a 33-point drop from overnight levels and confirming the weaker bias into the Indian market open.
Asian Markets Rally
Regional equity indices posted solid gains in Tuesday trading. The Nikkei 225 climbed 737.12 points to 70,683.98, building on Monday's 1,637.40-point surge that lifted the Japanese benchmark 2.40%. The Hang Seng Index advanced 240.22 points to 24,280.56, while the Shanghai SE Composite gained 0.31% to 3,842.19.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 70,683.98 | +737.12 (+1.05%) |
| Hang Seng | 24,280.56 | +240.22 (+1.00%) |
| Shanghai SE | 3,842.19 | +0.31% |
| S&P/ASX 200 | 8,735.70 | +49.30 |
The Nifty 50 Index opened at 22,776.10 in Mumbai, up 220.35 points or 0.98% from the previous session, outperforming the offshore GIFT NIFTY contract and signaling domestic buying interest at the cash market open. The divergence between GIFT NIFTY's modest loss and the Nifty 50's opening gain reflected differing sentiment between overnight derivative traders and domestic institutional flows.
GIFT NIFTY is currently trading near the lower end of Tuesday's range at 22,755.00, holding just above the 22,754.00 intraday low. The contract has traded 45 points below the opening level, with the session high of 22,893.50 now serving as near-term resistance.