GIFT Nifty opened the week on a strong note, trading at 24,700 as of 7:30 AM IST — a clear gap-up signal of around 300 points above Friday's NSE close. The strength is largely driven by Friday's sharp rally on Wall Street, where the Dow Jones surged over 868 points on positive earnings momentum from major US banks and a broad improvement in risk sentiment. However, Asian markets this morning are telling a cautious story — Nikkei, Hang Seng, Straits Times and KOSPI are all in the red, suggesting that global optimism has not fully translated into Asian confidence yet. For Indian traders, the immediate focus will be on whether Nifty can sustain above 24,800 in the first hour of trade, or whether the Asian weakness and profit-booking drag it back toward the 24,500 support zone.
Global Cues
US Markets
US markets closed sharply higher on Friday, with all three major indices posting strong gains. The Dow Jones Industrial Average surged 868 points (+1.79%), while the S&P 500 gained 1.20% and the Nasdaq rose 1.52%. The broad-based rally was supported by better-than-expected bank earnings and a drop in the dollar index, which improved sentiment toward emerging markets including India. This strong close on Wall Street is the primary driver behind GIFT Nifty's gap-up this morning.
Asian Markets
Despite the positive Wall Street lead, Asian markets are trading cautiously this morning. Japan's Nikkei 225 is the biggest loser, falling over 1,042 points (-1.75%), likely weighed down by a stronger yen and concerns over export competitiveness. Hong Kong's Hang Seng is down 0.89%, while Singapore's Straits Times and South Korea's KOSPI are also in negative territory. The mixed Asian session suggests that while Indian markets will open gap-up on the Wall Street cues, the sustainability of that rally will depend on how global risk appetite plays out through the trading day.
Stocks in News
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What to Watch Today
With GIFT Nifty pointing to a strong gap-up open, banking stocks will be in focus given the Q4 results from HDFC Bank, YES Bank and ICICI Bank. All three delivered solid numbers and any positive reaction could push the Nifty Bank index higher and sustain the broad market rally. Key levels for Nifty 50 today — watch 24,800 as the first resistance; if Nifty closes above it, the next target is 25,000. On the downside, 24,500 is critical support. Traders should be cautious about chasing the gap-up blindly given the weakness in Asian markets — wait for the first 15-30 minutes to confirm direction before taking positional trades.