GIFT NIFTY opened marginally lower at 24,078.50 on Thursday, down 17.5 points or 0.07% from the previous close of 24,094.50, as traders digested overnight weakness in Japan and modest gains across other Asian bourses.
The early session showed initial resilience with the index touching an intraday high of 24,110.00 within the first half-hour of trade. The opening range held firm through 00:30 IST, with prices oscillating between 24,091 and 24,104 as buyers attempted to reclaim the previous close.
That bid evaporated after 00:35 IST. GIFT NIFTY slipped below the 24,090 mark and accelerated lower, dropping to a session low of 24,072.50 by the hour mark. The decline extended through the next quarter-hour, with the index briefly testing 24,040 levels before stabilizing. As of 09:15 IST, GIFT NIFTY was trading at 24,077.00, holding just above the morning low.
| Metric | Level |
|---|---|
| Open | 24,078.50 |
| High | 24,110.00 |
| Low | 24,072.50 |
| LTP | 24,077.00 |
| Change | -17.5 (-0.07%) |
Asian Markets Paint Mixed Picture
The cautious undertone in GIFT NIFTY mirrored weakness in Tokyo, where the Nikkei 225 closed down 613.41 points or 0.88% at 69,174.97. The Japanese benchmark had opened at 69,615.08 and swung through a wide range of 68,461.10 to 70,218.71 during the session before settling near the lower end.
Hong Kong provided a counterpoint. The Hang Seng Index opened at 23,420.70 and added 75.90 points or 0.33% to reach 23,412.18, supported by volume of 3.46 billion shares. Mainland China's SSE Composite Index edged up 0.11% to 4,110.81, while broader Asian Pacific indices showed scattered gains.
Indian Cash Market Opens Higher
The domestic cash market diverged from GIFT NIFTY's subdued start. The Nifty 50 Index opened up 0.83% at 24,021.65, buoyed by strength in specific sectors despite the overnight selloff in Japan. The gap between the Singapore-traded derivative and the Mumbai cash market suggested localized buying interest at the domestic open.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 69,174.97 | -0.88% |
| Hang Seng | 23,412.18 | +0.33% |
| SSE Composite | 4,110.81 | +0.11% |
| Nifty 50 | 24,021.65 | +0.83% |
GIFT NIFTY's 38-point session range from 24,072.50 to 24,110.00 reflected muted volatility in the opening 75 minutes of trade. The index has tracked sideways to lower after the initial push failed to sustain above the 24,100 mark, leaving it 17 points below Wednesday's settlement as the domestic session gets underway.