GIFT NIFTY opened at 23,104.5 on Friday, up 0.24% from the previous close of 23,109.5, defying a broad selloff across Asian markets as geopolitical tensions over Iran rattled regional bourses. The index briefly tested 23,183.0 in early trade before settling near 23,166.0 by the Indian cash market open at 09:15 IST.
The marginal opening gap masked volatility in the pre-market session. GIFT NIFTY dropped sharply in the first 75 minutes of trading, falling from the 23,092.0 level to a session low of 23,027.5 by 01:10 IST. The index surrendered nearly 65 points from the opening level, breaking below 23,050 as early Asian cues turned decisively negative. The recovery from that low saw the index regain all lost ground and push into positive territory by the time Indian traders arrived at their desks.
Asian Markets Sink on Iran Conflict
Regional indices posted steep losses overnight, driven by escalating war concerns in the Middle East. Japan's Nikkei 225 closed down 1,866.87 points at 53,372.53, a loss of 3.38%. Hong Kong's Hang Seng Index slid 524.84 points to 25,500.58, down 2.02%. The S&P/ASX 200 in Sydney dropped 1.62% to 8,500.70.
The selloff across Asia-Pacific markets set a risk-off tone, with traders tracking Wall Street losses from the previous session. GIFT NIFTY's ability to hold above the 23,100 level despite the regional rout suggested resilience in Indian index futures, though the early-session dip below 23,030 indicated traders were not immune to the broader risk aversion.
Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,104.5 |
| High | 23,183.0 |
| Low | 23,104.5 |
| LTP (09:15 IST) | 23,166.0 |
| Change | +56.5 (+0.24%) |
Regional Indices at Close
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 53,372.53 | -1,866.87 (-3.38%) |
| Hang Seng | 25,500.58 | -524.84 (-2.02%) |
| S&P/ASX 200 | 8,500.70 | -139.90 (-1.62%) |
GIFT NIFTY is trading at 23,166.0 as of 09:15 IST, up 56.5 points from Thursday's close. The early session range of 23,027.5 to 23,183.0 reflects a 155-point swing, with the index currently holding in the upper half of that range despite the challenging backdrop in Asia.