GIFT NIFTY Slips 24 Points at Open
GIFT NIFTY opened at 24,527.5 on Tuesday, down 38 points or 0.1% from the previous close of 24,565.5. The modest opening gap reflected mixed signals from Asian markets, where Tokyo rallied sharply while Hong Kong weakened.
Early session trade saw the index drift lower in the first 15 minutes of the session. After touching an intraday high of 24,568.0 shortly after midnight Singapore time, GIFT NIFTY slipped steadily through the pre-market hours, testing 24,558.5 by 01:00 SGT before stabilizing. The index was last trading at 24,541.0 as the Indian cash market opened at 09:15 IST.
| Metric | Level |
|---|---|
| Open | 24,527.5 |
| High | 24,549.5 |
| Low | 24,527.5 |
| LTP | 24,541.0 |
| Change | -24.5 (-0.1%) |
Asian Markets Split
The subdued opening in GIFT NIFTY came as Asian indices traded without clear direction. Japan's Nikkei 225 closed 1,363.51 points higher at 66,970.22, a gain of 2.08%, providing a tailwind for regional sentiment. The benchmark Japanese index settled near the top of its session range after climbing through the day.
Hong Kong moved in the opposite direction. The Hang Seng Index dropped 284.67 points or 1.10% to 25,652.82, extending losses from the prior session. The divergence between Tokyo's strength and Hong Kong's weakness left GIFT NIFTY without a clear directional cue from the region.
| Index | Level | Change |
|---|---|---|
| Nikkei 225 | 66,970.22 | +1,363.51 (+2.08%) |
| Hang Seng | 25,652.82 | -284.67 (-1.10%) |
Narrow Trading Range Holds
GIFT NIFTY carved out a tight 22-point range in the early session, with the high at 24,549.5 and the low matching the opening level of 24,527.5. The index spent most of the first hour above the 24,560 mark before slipping in the minutes leading up to the Indian market open.
The overnight session showed initial firmness, with the index holding above 24,565 through the first half-hour. Selling pressure emerged around 00:55 SGT, driving the contract through support levels as it shed nearly 10 points in a 15-minute stretch. The decline brought GIFT NIFTY back in line with its opening gap, erasing the modest bounce seen in the first minutes of trade.
At the time of the Indian cash market open, GIFT NIFTY was trading 24.5 points below the previous close, holding just above the session low. The index has maintained a narrow band around 24,540 as traders await domestic cues from the Nifty 50 and Sensex at the opening bell.