GIFT NIFTY opened marginally lower at 23,502.50 on Tuesday morning, slipping 21.5 points or 0.09% from the previous close of 23,535.50. The subdued start came despite a broad rally across Asian markets, with major regional indices posting gains of more than 1%.
Early session price action showed a swift recovery from the opening gap. After touching the session low of 23,502.50 at the open, the index climbed steadily through the first 75 minutes of trade, reaching an intraday high of 23,526.00. The index was trading at 23,514.00 at 09:15 IST, nearly erasing the opening decline and trading just 21.50 points below the previous close.
Asian Markets Post Strong Gains
Regional markets provided a positive backdrop, with Japan's Nikkei 225 surging 882.75 points or 1.38% to close at 65,018.95. The Hang Seng Index advanced 291.93 points or 1.18% to 25,042.71, while the Shanghai SE Composite gained 38.04 points or 0.97% to 3,949.91.
The disconnect between GIFT NIFTY's muted opening and the broader Asian strength suggested cautious positioning ahead of the Indian cash market open at 09:15 IST. While regional indices closed higher in their respective sessions, GIFT NIFTY traders appeared to price in domestic factors or take a wait-and-see approach to the Nifty 50 and Sensex opening.
Session Snapshot
| Metric | Level |
|---|---|
| Open | 23,502.50 |
| High | 23,526.00 |
| Low | 23,502.50 |
| LTP (09:15 IST) | 23,514.00 |
| Previous Close | 23,535.50 |
| Change | -21.50 (-0.09%) |
Regional Indices
| Index | Level | Change | % Change |
|---|---|---|---|
| Nikkei 225 | 65,018.95 | +882.75 | +1.38% |
| Hang Seng | 25,042.71 | +291.93 | +1.18% |
| Shanghai SE | 3,949.91 | +38.04 | +0.97% |
The early session range of just 23.50 points reflected tight trading conditions in the pre-market phase. GIFT NIFTY's gradual climb from the opening level suggested steady buying interest, with the index holding above 23,510 for most of the session leading into the Indian cash market open.
At 09:15 IST, GIFT NIFTY was trading at 23,514.00, down 21.50 points from the previous close but up 11.50 points from the opening level, having tested support at 23,502.50 and resistance at 23,526.00 in early trade.