GIFT NIFTY opened at 24,309.5 on Friday morning, up 18.5 points from the previous close of 24,291.0, marking a marginal 0.04% gain as Asian markets surged on broad-based risk appetite. The SGX Nifty futures contract touched an early high of 24,327.5 before pulling back to trade at 24,301.5 as of 09:15 IST.
Early session price action showed initial firmness giving way to choppy consolidation. The contract opened higher in overnight trade at 24,344.5 before drifting lower through the first hour of trading. After touching the session low of 24,281.0, GIFT NIFTY recovered modestly but remained range-bound, trading in a tight 46.5-point band through the first 75 minutes of the Indian cash market session.
Asian Markets Post Sharp Gains
Regional bourses provided a supportive backdrop, with the Nikkei 225 surging 5.58% to 62,833.84, adding 3,320.72 points in a powerful rally. The Hang Seng Index advanced 1.57% to 26,626.28, up 412.50 points, while the FTSE Straits Times Index rose modestly by 14.58 points to 4,941.96.
The sharp advance in Tokyo equity markets appeared to fuel early optimism in GIFT NIFTY during overnight trade, though the contract failed to sustain opening levels as traders awaited confirmation from the Indian cash market open.
Indian Cash Market Opens Mixed
The BSE Sensex opened lower at 77,844.52, down 114.00 points from the previous close, diverging from the positive cues offered by Asian peers and the marginal uptick in GIFT NIFTY futures. The disconnect between offshore futures and domestic cash market sentiment underscored caution among local investors despite the regional rally.
GIFT NIFTY Session Snapshot
| Metric | Level |
|---|---|
| Open | 24,309.5 |
| High | 24,327.5 |
| Low | 24,281.0 |
| LTP (09:15 IST) | 24,301.5 |
| Change | +10.5 (+0.04%) |
| Previous Close | 24,291.0 |
Regional Index Performance
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 62,833.84 | +3,320.72 (+5.58%) |
| Hang Seng | 26,626.28 | +412.50 (+1.57%) |
| FTSE Straits Times | 4,941.96 | +14.58 |
| BSE Sensex | 77,844.52 | -114.00 |
GIFT NIFTY is currently trading just above the 24,300 mark, holding a slim 10.5-point premium to Thursday's close. The early session range of 46.5 points reflects muted volatility as traders digest the sharp gains in Tokyo and assess domestic market direction following the weak Sensex open.