GIFT NIFTY opened marginally higher at 24,412.50 on Friday, up 19 points or 0.08% from the previous close of 24,393.50, as Asian markets traded with a cautious positive bias. The opening gap reflected modest overnight strength in regional bourses, though the early session quickly settled into a tight range.
After opening near 24,413, the index pushed to an early high of 24,443 within the first 15 minutes before encountering resistance. The contract then drifted lower through the next half-hour, slipping to 24,415 as buying interest faded. By mid-morning, GIFT NIFTY was trading at 24,405, just 11.50 points or 0.05% above the previous close, having carved out a narrow 56-point range between 24,387 and 24,443.
The subdued price action mirrored the broader Asian picture. Japan's Nikkei 225 closed at 61,867.43, adding 433.24 points or 0.71%, extending its recent rally. Hong Kong's Hang Seng Index traded at 25,858.88, up 50.96 points or 0.20%, marking its fourth consecutive session of gains. Both indices signaled cautious optimism but lacked the momentum to push GIFT NIFTY into a sustained breakout.
| Session Snapshot | Level |
|---|---|
| Open | 24,412.50 |
| High | 24,443.00 |
| Low | 24,387.00 |
| Last Traded Price | 24,405.00 |
| Change | +11.50 (+0.05%) |
The five-minute candle data revealed choppy two-way action through the first hour. After the initial push to 24,435 in the opening minutes, the contract traded in a series of narrow ranges, alternating between brief upticks and pullbacks. The 24,420 to 24,430 zone emerged as the center of gravity, with neither bulls nor bears able to establish clear control.
| Regional Indices | Level | Change |
|---|---|---|
| Nikkei 225 | 61,867.43 | +433.24 (+0.71%) |
| Hang Seng Index | 25,858.88 | +50.96 (+0.20%) |
The flat opening in GIFT NIFTY comes as the Indian cash market opened at 09:15 IST, with traders awaiting domestic cues to set the tone for the day. The lack of conviction in early offshore trading suggests participants are waiting for confirmation from onshore flows before committing to either side.
As of 09:15 IST, GIFT NIFTY is trading at 24,405, holding just above the session low of 24,387 and well off the morning peak of 24,443. The early session range remains narrow, reflecting the cautious mood across Asian markets despite the modest positive bias in Tokyo and Hong Kong.