GIFT NIFTY opened at 24,335 on Tuesday morning, down 14.5 points from the previous close of 24,349.5, but quickly reversed course to trade at 24,359, marking a modest gain of 9.5 points or 0.04% by the time Indian cash markets opened at 09:15 IST.
The early session saw choppy price action through the overnight hours. After opening near 24,140 in the Singapore time zone, the index climbed steadily through the first hour, touching 24,243.5 before pulling back to 24,191 by 01:00 IST. The contract stabilized around the 24,200 level through the final pre-market hour.
| Metric | Level |
|---|---|
| Open | 24,335.0 |
| High | 24,372.5 |
| Low | 24,300.0 |
| LTP | 24,359.0 |
| Change | +9.5 (+0.04%) |
Asian markets presented a mixed picture, with Japan's Nikkei 225 opening sharply lower at 54,608.63 compared to its previous close of 55,620.84, reflecting a gap down of more than 1,000 points. The Nikkei traded in a wide range between 51,407.66 and 54,608.63 during early trading, signaling heightened volatility in the region's largest market.
The subdued move in GIFT NIFTY contrasts with the turbulence seen in Tokyo, suggesting Indian markets may be taking a cautious stance ahead of domestic trading. The contract has maintained a relatively tight 72.5-point range between its session low of 24,300 and high of 24,372.5.
After the initial dip at the open, GIFT NIFTY found buying interest and pushed above the previous close within the first 15 minutes of Indian market hours. The recovery indicates traders are not rushing to follow the weakness seen in Japanese equities, though the modest gain of 0.04% reflects limited conviction either way.
The overnight session saw the index build from lower levels through the Singapore morning, adding nearly 100 points from the 24,140 open to the 24,222.5 level by 00:50 IST. That momentum faded in the hour before Indian markets opened, with the contract drifting sideways around 24,200 before staging the final push higher to 24,335 at the official open.
GIFT NIFTY is currently trading at 24,359, holding just above the opening level and tracking a narrow path between support at 24,300 and resistance at 24,372.5. The flat start suggests traders are awaiting further cues from domestic price action and broader Asian market direction before committing to a stronger directional move.