GIFT Nifty futures traded 155 points higher at 22,864 on Thursday morning, signalling a gap-up start for the Nifty50 even as Asian markets fell. The upbeat Indian signal came after the Nasdaq posted its worst session since June, dragged down by heavy selling in technology shares over worries about artificial intelligence spending.
The divergence set up a split picture for October 23. While regional equities slipped, Indian index futures pointed higher, suggesting local buyers were looking past the overnight weakness on Wall Street.
GIFT Nifty today: up 155 points at 22,864
GIFT Nifty today traded 155 points higher at 22,864 in early deals, pointing to a gap-up opening for the Nifty50. The futures contract is the market’s most-watched gauge of the Indian open and reflected steady domestic flows.
The signal matters because the index has been tracking overnight cues closely through the week. A firm GIFT Nifty line has often translated into buying in the first hour of cash trade.
Asian markets fall after Nasdaq’s worst session since June
Asian markets fell on Thursday after the Nasdaq logged its worst session since June. Technology stocks led the decline as investors questioned the pace of spending on artificial intelligence infrastructure, and the weakness spread across the region.
Japan, South Korea and Hong Kong benchmarks traded in the red through the morning. The sell-off showed how quickly sentiment can turn when doubts build around the year’s most crowded trade.
What to watch for Nifty50 today
For the Nifty50, the morning setup is mixed: a gap-up futures signal against a weak Asian backdrop. Traders will watch whether the opening gains hold through the first hour or get sold into.
Banking and financial shares will be in focus, along with index heavyweights that led the recent advance. Results from a handful of large companies could also move individual names.
Globally, the AI spending debate remains the swing factor. Any recovery in US technology futures ahead of the Indian open would support the gap-up signal from GIFT Nifty.