GIFT NIFTY opened marginally lower at 22,632.5 on October 01, down 24 points or 0.11% from the previous close of 22,655.5, as investors navigated mixed cues from Asian markets at the start of the trading session.
The early session saw choppy two-way action. After opening near 22,645.0 just after midnight SGT, the index attempted a brief rally to 22,657.0 around 00:40 before slipping back. The contract traded in a narrow 16.5-point range during the first 75 minutes, oscillating between 22,640.0 and 22,623.5 as traders assessed regional market direction.
| Metric | Level |
|---|---|
| Open | 22,632.5 |
| High | 22,640.0 |
| Low | 22,623.5 |
| LTP | 22,631.5 |
| Change | -24.0 (-0.11%) |
Asian equity markets presented a divergent picture heading into the Indian cash market open. Japan's Nikkei 225 closed higher by 1,272.45 points or 1.94% at 66,753.72, extending its recovery after a strong rally lifted the benchmark index. The Nikkei's session range stretched from 66,014.48 to 66,946.14 as buying interest returned to Tokyo stocks.
Hong Kong's Hang Seng Index showed conflicting data points in available market feeds, with one source indicating a gain of 89.70 points to 24,613.27 and another showing a decline of 29.23 points or 0.12% to the same level. Australia's S&P/ASX 200 advanced 80.00 points to 8,789.30, while China's SSE Composite Index added 11.74 points or 0.31% to 3,842.19.
The Indian cash market opened on a subdued note, with the Nifty 50 down 95.75 points to 22,620.45, tracking the cautious sentiment seen in GIFT NIFTY's overnight session. The domestic benchmark's opening level aligned closely with the GIFT NIFTY contract, which was trading just above the 22,630 mark as Mumbai trading commenced.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 66,753.72 | +1,272.45 (+1.94%) |
| Hang Seng | 24,613.27 | +89.70 |
| S&P/ASX 200 | 8,789.30 | +80.00 |
| SSE Composite | 3,842.19 | +11.74 (+0.31%) |
| Nifty 50 | 22,620.45 | -95.75 |
As of 09:14 IST, GIFT NIFTY was trading at 22,631.5, holding just above the opening level but still nursing a fractional loss from the previous close. The contract remained within a tight intraday band, reflecting investor caution despite the positive lead from Japan's market.